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MicroStrategy accumulates additional 10,107 Bitcoin at over $105K per coin

Key Takeaways

  • MicroStrategy acquired 10,107 Bitcoin for $1.1 billion, averaging $105,596 per coin.
  • The firm’s Bitcoin holdings total 471,107 BTC worth over $46 billion at current prices.

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MicroStrategy announced Monday it had acquired 10,107 Bitcoin for $1.1 billion at an average price of $105,596 per coin between January 21 and 26, marking its twelfth consecutive week of Bitcoin purchases.

The Tysons, Virginia-based firm now holds 471,107 Bitcoin, valued at approximately $46.7 billion at current market prices. The company has invested about $30 billion in Bitcoin at an average price of $64,500 per coin.

Similar to previous weeks, MicroStrategy’s latest purchase was funded through stock sales. According to a Monday SEC filing, the firm sold 2,765,157 shares during the same period, generating $1.1 billion in net proceeds. The company retains $4.35 billion worth of shares available for sale under their sales agreement as of January 26.

The acquisition follows recent shareholder approval to increase authorized Class A common shares from 330 million to 10.3 billion and preferred stock from 5 million to 1 billion, securing 56% of votes. This move supports the company’s Bitcoin treasury strategy, which aims to raise $42 billion by 2027 for additional Bitcoin purchases.

MicroStrategy reported its Bitcoin yield, measuring Bitcoin representation per share, reached 2.9% year-to-date. The company’s shares declined about 5% at market close last Friday, per Yahoo Finance.

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This article first appeared at Crypto Briefing

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