MicroStrategy buys $4.6B of Bitcoin as price hits new highs
MicroStrategy has acquired an additional 51,780 BTC worth $4.6 billion, boosting its total holdings to 331,200 Bitcoin as BTC prices hit record highs above $92,400.
To acquire thousands of new BTC, MicroStrategy used fresh proceeds from a share sale under a sales agreement with companies like TD Securities made on Oct. 30, 2024.
During the period between Nov. 11 and Nov. 13, MicroStrategy sold an aggregate of 13.6 million shares under the agreement for $4.6 billion.
As of Nov. 17, around $15.3 billion of shares remained available for issuance and sale pursuant to the agreement, MicroStrategy noted in its 8-K filing with the Securities and Exchange Commission.
The purchase came amid Bitcoin breaking past $90,000 for the first time in history on Nov. 12 and extending gains further to the all-time high of $92,400 the next day.