MicroStrategy Acquires Additional Bitcoin

Bitcoin stockpiler MicroStrategy has acquired an additional 5,262 BTC for approximately $561 million, as announced by the company’s 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, currently valued at over $40 billion, and has spent about $27.7 billion on the Bitcoin it owns, according to Saylor.

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 reported that it had approximately $7.65 billion worth of shares still available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities.

This marks the seventh consecutive week that MicroStrategy has announced acquiring more bitcoin. Last week, the company bought 15,350 BTC. Monday’s announcement coincides with MicroStrategy’s inclusion in the Nasdaq 100 index, which increases the likelihood that large exchange-traded funds will purchase the stock.

Some investors express skepticism regarding MicroStrategy’s premium to NAV valuation and its strategy of using equity and debt to fund bitcoin purchases. Notably, the firm’s software business was not profitable during the last reported quarter.