Software intelligence firm Microstrategy Inc. (Nasdaq: MSTR) disclosed significant updates in a filing with the U.S. Securities and Exchange Commission (SEC) on Monday, revealing its latest equity and bitcoin activities.
Between Nov. 25 and Dec. 1, the company sold 3,728,507 shares of its class A common stock under a sales agreement, generating approximately $1.48 billion in net proceeds. This sale is part of a broader initiative allowing up to $21 billion in shares, with $11.3 billion remaining available for future offerings. Using the proceeds, Microstrategy purchased 15,400 bitcoins for $1.5 billion during the same period at an average price of $95,976 per bitcoin, inclusive of fees. The total bitcoin holdings now stand at 402,100 bitcoins, acquired for approximately $23.4 billion.
Microstrategy Executive Chairman Michael Saylor reiterated the company’s strategy on social media platform X, stating:
Microstrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per bitcoin and has achieved BTC yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin.
Microstrategy recently unveiled an ambitious “21/21 Plan” to raise $42 billion over the next three years — $21 billion through equity and $21 billion via fixed-income securities — to significantly increase its BTC holdings. This strategy aims to enhance shareholder value by leveraging the digital transformation of capital. The firm continues to position itself as a leading bitcoin treasury company, aiming to use the additional capital to acquire more bitcoin as a treasury reserve asset.
Saylor has projected that bitcoin could reach $13 million per coin by 2045. He attributes this potential growth to increased adoption and reduced volatility as the cryptocurrency matures. His forecast includes a bear case of $3 million and a bull case of $49 million per bitcoin. Notably, financial educator Robert Kiyosaki has endorsed Saylor’s prediction, highlighting the potential for substantial returns. In addition to his price forecasts, Saylor has urged major corporations like Microsoft to invest in BTC, suggesting that such moves could significantly enhance their market capitalizations. He also believes that he could convince Warren Buffett to use Berkshire Hathaway’s $325 billion in cash to buy bitcoin.
