MicroStrategy Acquires Bitcoin

Business intelligence firm MicroStrategy announced on Monday that it has acquired approximately 21,550 bitcoin for about $2.1 billion in cash between December 2 and December 8, 2024. The average purchase price was roughly $98,783 per coin, including fees and expenses.

The bitcoin purchases were funded by proceeds from the issuance and sale of company shares. During that period, MicroStrategy sold a total of 5,418,449 shares for net proceeds of approximately $2.13 billion, according to a filing with the U.S. Securities and Exchange Commission.

As of December 8, MicroStrategy held approximately 423,650 bitcoin. The aggregate purchase price of these bitcoins equates to roughly $60,324 per coin, according to the filing. The firm's total investment in bitcoin amounts to approximately $25.6 billion.

This acquisition marks the fifth consecutive week that MicroStrategy has made a significant purchase of bitcoin. The price of bitcoin has appreciated about 40% during this time, while MicroStrategy's stock (ticker MSTR) has risen about 20%. The stock's 480% year-to-date surge has perplexed financial analysts, while others have applauded the company's strategy toward bitcoin holdings.