MicroStrategy Purchases Another 55,500 Bitcoins
Business intelligence company MicroStrategy has acquired an additional 55,500 Bitcoins for $5.4 billion, at an average price of $97,862 per Bitcoin, between November 18 and November 24. This is the largest amount of Bitcoin purchased by the company to date and comes after completing a $3 billion debt offering on November 21, with net proceeds of $2.97 billion.
MicroStrategy also sold 5,597,849 of its own shares between November 18 and November 24 for approximately $2.5 billion.
As of November 24, the company had approximately $12.8 billion worth of shares left to sell as part of its planned $21 billion equity offering and $21 billion in fixed-income securities, with the goal of acquiring a total of $42 billion in capital over the next three years for further Bitcoin purchases.
Including fees and expenses, MicroStrategy’s total holdings of 386,700 Bitcoins now have an average price of $56,761, equating to a total cost of $21.9 billion, according to the company’s co-founder and executive chairman, Michael Saylor. This acquisition puts the company’s total Bitcoin holdings at over $37 billion.
