MicroStrategy’s $2.1 Billion Bitcoin Purchase Adds 21,550 Tokens.
YEREVAN (CoinChapter.com) — MicroStrategy expanded its Bitcoin holdings last week by purchasing 21,550 tokens. The company spent $2.1 billion, averaging $98,783 per Bitcoin, as noted in a regulatory filing on Monday. The acquisition was funded through $2.13 billion raised via its at-the-market (ATM) share sales facility.
MicroStrategy SEC Filing. Source: SEC
This transaction brings MicroStrategy’s total Bitcoin holdings to 423,650 tokens, valued at approximately $42 billion at current prices. The firm now owns over 2% of all 21 million Bitcoins that will ever exist. Executive Chairman Michael Saylor continues to lead the company’s cryptocurrency acquisition strategy.
Bitcoin Holdings Grow Amid Market Milestones
MicroStrategy’s $2.1 billion Bitcoin purchase coincided with the cryptocurrency surpassing the $100,000 price mark for the first time. Market activity in the United States played a role in driving the increase, with significant investor participation.
U.S. spot Bitcoin exchange-traded funds (ETFs) also experienced substantial inflows during this period. According to data from Farside Investors, these ETFs received $2.73 billion in new funds last week. This aligns with the timing of MicroStrategy’s purchase, which may have contributed to increased market activity.
Bitcoin ETF Flows. Source: Farside Stock Impact and Remaining ATM Sale Capacity
Despite the substantial acquisition, MicroStrategy’s shares saw a 1% decline, trading at $395 in premarket activity on Monday. This decrease aligned with a slight dip in Bitcoin prices, which were at $99,000 after briefly crossing $100,000.
The company’s ATM share sales facility still has $9.19 billion in capacity, leaving room for further acquisitions. MicroStrategy’s growing Bitcoin holdings underscore its continued focus on cryptocurrency as a key asset.
Corporate Bitcoin Strategies Expand Further
In related developments, Riot Platforms (RIOT), a leading Bitcoin mining firm, announced plans to raise $500 million through convertible notes. These funds are primarily intended for acquiring additional Bitcoin.
MicroStrategy’s Bitcoin holdings now represent a significant portion of the cryptocurrency’s total supply, highlighting the ongoing corporate adoption of digital assets.
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