MicroStrategy Acquires Bitcoin

Business intelligence firm MicroStrategy announced on Monday the acquisition of 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 financed through proceeds from the issuance and sale of company shares. During the same period, MicroStrategy sold a total of 5,418,449 shares, generating net proceeds of approximately $2.13 billion, as reported in a filing with the U.S. Securities and Exchange Commission.

As of December 8, MicroStrategy held approximately 423,650 bitcoin, with the aggregate purchase price amounting to roughly $60,324 per coin. Overall, the firm’s bitcoin holdings have cost around $25.6 billion in total.

This marks the fifth consecutive week that MicroStrategy has made significant bitcoin purchases. During this period, the price of bitcoin has increased by about 40%, while MicroStrategy’s stock (ticker MSTR) has risen by approximately 20%. The stock’s impressive 480% surge year-to-date has drawn both curiosity and praise from financial experts who support its corporate bitcoin strategy.