MicroStrategy acquires another 21,550 bitcoin for roughly $2.1 billion
MicroStrategy acquired approximately 21,550 bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, 2024.The average purchase price was roughly $98,783 per coin.
Business intelligence firm MicroStrategy announced Monday it acquired approximately 21,550 bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, 2024. The average purchase price was roughly $98,783 per coin, including fees and expenses.
The bitcoin purchases were conducted using proceeds from the issuance and sale of company shares. Between Dec. 2 and Dec. 8, 2024, MicroStrategy sold an aggregate of 5,418,449 shares for aggregate net proceeds of approximately $2.13 billion, according to a filing with the U.S. Securities and Exchange Commission.
MicroStrategy held an approximated aggregate of 423,650 bitcoin as of Dec. 8. The aggregate purchase price of said bitcoins equates to roughly $60,324 per coin, according to the filing. The firm's bitcoin holdings cost it approximately $25.6 billion in total.
This marks the fifth straight week that MicroStrategy has made a substantial purchase of bitcoin. The price of bitcoin has appreciated about 40% during that time while MicroStrategy's stock (ticker MSTR) has risen about 20%. The stock’s 480% year-to-date surge has puzzled financial pundits while others have cheered its corporate bitcoin strategy.
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.
You may also like
Will AI "sinking" risks drag down the US dollar?
Weekly US Equity Macro Outlook Highlights (Nov 9–13)
BofA Hartnett: Election signals "AI peak," Wall Street's "bull market beliefs collapse one by one"
Bank of America chief strategist Hartnett has identified the US election as a historic turning point marking the peak concentration of “AI stocks”: the market cap of the top ten AI giants has reached a high of 41%, equal to that of the internet bubble era. Wall Street's four major bull market beliefs—“the Fed not raising rates, Democrats not sweeping, no reduction in AI capital expenditure, and no economic recession”—are falling one by one. Looking ahead, gold is expected to outperform oil, tech bonds to outperform tech stocks, and there is optimism for technology stocks in Europe and China.
Crypto prices
More
