MicroStrategy announced on December 23, 2024, that it purchased a total of 5,262 Bitcoins between December 16, 2024 and December 22, 2024.
The company said it spent approximately $561 million on these purchases, with the average price per Bitcoin being $106,662, including expenses and commission fees incurred on these purchases.
Financing was provided through share sales
MicroStrategy secured the financing required for the Bitcoin purchases through a Stock Sale Agreement with TD Securities, Barclays Capital, The Benchmark Company, BTIG, and other financial institutions dated October 30, 2024. Between December 16-22, the company sold 1,317,841 shares of Class A common stock, generating net proceeds of approximately $561 million.
At the same time, the company announced that it has the right to sell an additional $7.08 billion worth of shares under the agreement as of December 22, 2024.
Total Bitcoin basket
With the latest purchases, MicroStrategy and its affiliates’ total Bitcoin holdings have reached 444,262. The company spent around $27.7 billion on these Bitcoins in total, with the average cost per Bitcoin being $62,257.
With these acquisitions, MicroStrategy has further strengthened its position as the largest institutional Bitcoin investor in the crypto space. The company’s Bitcoin strategy reflects its belief that digital assets can be used as a long-term store of value.
Stay tuned.