Originally published on: December 02, 2024
MicroStrategy, known for being a significant player in the world of corporate Bitcoin holdings, recently made headlines by acquiring approximately 15,400 BTC between November 25 and December 1. The impressive purchase was made possible by raising $1.5 billion through a stock sale under its at-the-market (ATM) equity program, with each Bitcoin being bought at an average price of $95,976.
Revealing this substantial investment in a filing to the United States Securities and Exchange, MicroStrategy also shared that it sold 3.7 million shares of its Class A common stock during the same period, generating a whopping $1.48 billion in net proceeds. These funds were instantly redirected towards purchasing the 15,400 Bitcoins, further solidifying MicroStrategy’s position as the largest corporate Bitcoin holder. Currently owning 402,100 BTC, valued at around $38.4 billion in total, the firm has seen a significant return on investment, marking an impressive 64% increase from its initial Bitcoin investments.
This recent $1.5 billion purchase adds to a series of bold moves by the company in the realm of Bitcoin investment. Just the week before, MicroStrategy made a larger Bitcoin investment by acquiring 55,000 BTC for $5.4 billion at an average price of $97,862 per coin, showcasing its commitment to expanding its cryptocurrency portfolio.
Apart from bolstering its own holdings, MicroStrategy’s executive chairman, Michael Saylor, has been vocal about urging tech giant Microsoft to follow suit and adopt a similar strategy. Saylor believes that such a move could potentially increase Microsoft’s market capitalization by nearly $5 trillion, emphasizing the transformative power of Bitcoin in the corporate world.
With MicroStrategy making waves and setting a bold precedent in the Bitcoin investment landscape, it’s clear that cryptocurrency continues to be a hot topic among investors and industry giants alike. Stay tuned for more updates on this evolving trend that’s reshaping the future of finance.
