MicroStrategy Acquires More Bitcoin

Bitcoin stockpiler MicroStrategy has acquired an additional 5,262 BTC for approximately $561 million, as announced by co-founder and executive chairman Michael Saylor in a post on X on Monday. The company paid an average price of $106,662 per bitcoin for the new BTC.

MicroStrategy now holds 444,262 BTC, worth over $40 billion, having spent about $27.7 billion on its bitcoin holdings, Saylor noted.

In October, MicroStrategy unveiled plans to raise $42 billion in capital to support further bitcoin acquisitions as part of its treasury reserve strategy. As of December 15, the company stated it had approximately $7.65 billion worth of shares still available for sale as part of its $21 billion equity offering and $21 billion in fixed-income securities.

This marks the seventh consecutive week that MicroStrategy has announced bitcoin acquisitions. Last week, the company purchased 15,350 BTC. The announcement comes as MicroStrategy joins the Nasdaq 100 index, increasing the likelihood that large exchange-traded funds will purchase the stock.

However, some investors express skepticism regarding MicroStrategy's premium to NAV valuation and its strategy of using equity and debt to fund bitcoin purchases. Additionally, the firm's software business was not profitable in the last reported quarter.