MicroStrategy Acquires Additional Bitcoin

Business intelligence firm and corporate bitcoin holder MicroStrategy acquired an additional 15,400 BTC for approximately $1.5 billion at an average price of $95,976 per bitcoin between Nov. 25 and Dec. 1, according to an 8-K filing with the Securities and Exchange Commission on Monday.

It follows the sale of 3,728,507 MicroStrategy shares during the same period for the same amount. As of Dec. 1, the company reported approximately $11.3 billion worth of shares available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities, targeting a total $42 billion capital raise over the next three years for more bitcoin acquisitions.

MicroStrategy now holds 402,100 BTC, worth over $38 billion. The company’s total holdings were bought at an average price of $58,263 per bitcoin, totaling around $23.4 billion, including fees and expenses, according to co-founder and executive chairman, Michael Saylor.

MicroStrategy’s latest announcement marks the fourth consecutive week following news that it acquired a record 55,500 BTC for roughly $5.4 billion in cash at an average estimated price of $97,862 per coin, including fees and expenses, and $4.6 billion worth of bitcoin the week prior.

MicroStrategy employs a key performance indicator called “Bitcoin Yield” to measure the percentage change in its bitcoin holdings relative to diluted shares. As of Dec. 1, the firm’s year-to-date Bitcoin Yield is 63.3%, reflecting significant growth in holdings while balancing share dilution amidst the strategy of efficiently acquiring bitcoin to benefit shareholders.

Recently, Saylor advised Microsoft CEO Satya Nadella and its board to adopt bitcoin as a treasury asset.