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ZyCrypto 2024-12-30 19:03:59

Michael Saylor’s MicroStrategy Bags Another 2,138 BTC, Taking Total Holdings To 446,400 BTC

MicroStrategy, the largest corporate holder of Bitcoin, is again buying the dip. The Michael Saylor-founded company has acquired an additional 2,138 BTC for approximately $209 million, boosting its total holdings of the flagship cryptocurrency. MicroStrategy Boosts Its Bitcoin Coffers Bitcoin stockpiler MicroStrategy announced on Dec. 30 that it had increased its holdings of the largest cryptocurrency. The Virginia-based company, which already owns more Bitcoin than any other publicly traded company, bought 2,138 BTC between Dec. 23 and Dec. 29. MicroStrategy said it used $209 million in cash to purchase the BTC at an average price of $97,837 per BTC. The firm now holds 446,400 BTC, which is currently worth roughly $41.5 billion, and has spent $27.9 billion to build its Bitcoin treasury. MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2 — Michael Saylor (@saylor) December 30, 2024 This is the eighth week in a row that MicroStrategy has said it acquired more Bitcoin. Last Monday, the business intelligence firm bought 5,262 BTC for $516 million. The average price was over $106,000, meaning the company bought that batch of coins near the local market top. That said, Saylor has repeatedly indicated that he will continue buying Bitcoin at any price and has no plans to sell. MicroStrategy Plans To Issue More Shares To Fund More Bitcoin Purchases According to a Monday SEC filing, MicroStrategy financed the latest acquisition by selling 592,987 shares during the same week, accruing approximately $209 million in net proceeds. As of December 30, MicroStrategy still has about $6.8 billion worth of shares available for sale from its planned $21 billion equity offering and an additional $21 billion in fixed-income securities. Since announcing its ambitious 21/21 plan in October, MicroStrategy has bought over 194,000 BTC worth around $18 billion, achieving around 42% of its planned investment goal in less than two months. The company sought the SEC’s permission in a Dec. 23 filing to increase the number of its authorized shares for its Class A common stock and preferred stock. This would give MicroStrategy greater flexibility in funding Bitcoin purchases. The firm aims to raise the authorized Class A common stock to 10.33 billion shares from 330 million. Additionally, it seeks to increase the number of authorized preferred shares from 5 million to over 1 billion. Bitcoin was valued at $94,462 as of publication time, representing a 0.8% gain on the day.

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