MicroStrategy expands Bitcoin holdings with $5.4B purchase

MicroStrategy, a publicly traded business intelligence and software firm, announced a major expansion of its Bitcoin holdings in a filing on Nov. 25.

The company acquired approximately 55,000 Bitcoin (BTC) for $5.4 billion between Nov. 18 and 24 at an average price of $97,862 per coin. According to the filing, the purchase was funded through proceeds from recent equity and debt offerings.

This latest acquisition brings MicroStrategy’s total BTC holdings to a staggering 386,700 BTC, acquired at a cumulative cost of $21.9 billion — or an average price of $56,761 per token.

The firm’s aggressive buying spree near Bitcoin’s new high of almost $100,000 signals its confidence in BTC’s long-term growth potential, fueled by rising institutional adoption and optimism about pro-crypto legislation under the new U.S. presidential administration.

MicroStrategy’s bold strategy underscores its position as one of the most bullish institutional players in the crypto space, betting big on Bitcoin’s future.