Key Takeaways
- MicroStrategy said it had added 51,780 Bitcoin to its holdings between November 11 and November 17.
- The company’s total Bitcoin holdings now approach $30 billion in market value.
Share this article
MicroStrategy announced today it had acquired 51,780 Bitcoin in a series of purchases made between November 11 and November 17, paying an average price of $88,627 per coin. This move increases its total holdings to 331,200 BTC, valued at approximately $30 billion at current prices.
The latest purchases follow the company’s earlier acquisition of 27,200 Bitcoin between October 31 and November 10, coming after signals from co-founder Michael Saylor about a potential Bitcoin acquisition.
To fund the purchase, MicroStrategy entered into a sales agreement with several investment banks, including TD Securities, according to its filing with the SEC. The company sold 13.6 million shares between November 11 and November 13. It has approximately $15.3 billion in shares remaining available for issuance and sale under the agreement.
Last month, Saylor announced his ambitious goal to make MicroStrategy become a leading Bitcoin bank by leveraging financial instruments to increase its Bitcoin holdings.
As of November 17, MicroStrategy yielded approximately $13 billion in unrealized profits from its Bitcoin holdings. This increase in value is largely due to the recent surge in Bitcoin prices, which peaked at around $90,000, according to CoinGecko data.
Share this article
https://cryptobriefing.com/microstrategy-bitcoin-acquisition-3/