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MicroStrategy acquires another 15,400 Bitcoin, boosts total holdings to $38 billion

MicroStrategy acquires another 15,400 Bitcoin, boosts total holdings to $38 billion

Cryptobriefing2024/12/03 01:22
By:Cryptobriefing

Key Takeaways

  • MicroStrategy spent another $1.5 billion acquiring 15,400 BTC, according to a Monday announcement.
  • MicroStrategy's total Bitcoin holdings now stand at 402,100 BTC, valued at approximately $38 billion.

MicroStrategy, the largest corporate holder of Bitcoin, said Monday it had purchased another 15,400 Bitcoin worth $1.5 billion at an average price of $95,976 per coin, boosting the company’s total Bitcoin stash to 402,100 BTC, valued at approximately $38 billion at current market prices.

According to a Form 8-K filing with the SEC, the business intelligence firm funded the purchase through a combination of issuing and selling shares.

MicroStrategy entered into a Sales Agreement to sell up to $21 billion worth of its common stock. During the period between November 25, 2024, and December 1, 2024, the company sold $1.48 billion worth of shares, using the proceeds to acquire Bitcoin.

It is MicroStrategy’s fourth consecutive week of major Bitcoin purchases, following last week’s purchase of 55,500 BTC for roughly $5.4 billion at an average price of $97,862 per coin and the previous week’s purchase of $4.6 billion .

The company’s “Bitcoin Yield” metric, which measures the percentage change in bitcoin holdings relative to diluted shares, reached 63% year-to-date as of December 2.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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