On Monday, MicroStrategy announced that it purchased an additional 1,070 Bitcoin for $101 million in the last two days of 2024 (December 30–31), with an average price of $94,004 per Bitcoin. This transaction has increased the total amount of Bitcoin held by the company to 447,470 BTC, valued at approximately $44.3 billion at current market prices.
According to the recent SEC filing, MicroStrategy financed this Bitcoin purchase by selling 319,586 shares during the same period. At the same time, the company reported that the yield from holding Bitcoin reached 74.3% in 2024, with a growth of 48% in the last quarter (from October 1 to December 31).
Increase investment in Bitcoin
This announcement came after Michael Saylor, co-founder and Executive Chairman of MicroStrategy, revealed information about the additional Bitcoin purchase on January 5, through updates on the Saylor Tracker tool, a platform that monitors the company's Bitcoin purchases.
Last week, MicroStrategy announced plans to raise up to $2 billion through a perpetual preferred stock offering, aimed at strengthening the balance sheet and funding additional Bitcoin purchases. This offering is part of the '21/21 Plan', in which the company aims to raise $21 billion in equity and $21 billion through fixed income instruments within three years.
MicroStrategy also filed with the SEC on December 23 to increase the number of Class A common shares authorized for issuance from 330 million to 10.33 billion shares, while also increasing the number of preferred shares from 5 million to over 1 billion shares, to create more flexibility in future stock issuance.
The latest Bitcoin purchase marks the ninth consecutive week MicroStrategy has made Bitcoin purchases since October 31, when the company first announced the '21/21 Plan'. Since the inception of this plan, the company has purchased 195,250 BTC, accounting for about 45% of MicroStrategy's investment target.
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