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MicroStrategy has acquired an additional 51,780 BTC worth $4.6 billion, boosting its total holdings to 331,200 Bitcoin as BTC prices hit record highs above $92,400.
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MicroStrategy, one of the world’s largest public holders of Bitcoin, continues stacking BTC even as the cryptocurrency breaks new highs.
On Nov. 18, MicroStrategy officially announced it purchased 51,780 Bitcoin (BTC) for approximately $4.6 billion at an average price of $88,627 per BTC.
With the latest acquisition, MicroStrategy’s total Bitcoin holdings have grown to 331,200 BTC, purchased at an aggregate cost of $16.5 billion. The average price per Bitcoin across all purchases is $49,874.
MicroStrategy uses fresh proceeds from a share sale
To acquire thousands of new BTC, MicroStrategy used fresh proceeds from a share sale under a sales agreement with companies like TD Securities made on Oct. 30, 2024.
Between Nov. 11 and 13, MicroStrategy sold 13.6 million shares for $4.6 billion.
As of Nov. 17, the company reported approximately $15.3 billion in shares still available for sale under the agreement, according to a filing with the United States Securities and Exchange Commission.
The purchase came amid Bitcoin breaking past $90,000 for the first time in history on Nov. 12 and extending gains further to a new high above $92,400 the next day.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
