Business intelligence firm MicroStrategy, known for its aggressive Bitcoin acquisition strategy, has purchased an additional 2,530 BTC for approximately $243 million, according to an 8-K filing filed with the Securities and Exchange Commission today.
MicroStrategy Buys 2,530 BTC for $243 Million, Expands Holding Assets to 450,000 BTC
The purchase was made between January 6 and January 12, 2025, at an average price of $95,972 per Bitcoin.
The latest purchase brings MicroStrategy's Bitcoin holdings to 450,000 BTC, worth over $40 billion.
The firm spent a total of $28.2 billion on its Bitcoin reserves, with an average purchase price of $62,691 per Bitcoin, including fees and expenses.
This makes MicroStrategy the largest institutional holder of Bitcoin, controlling around 2.1% of the cryptocurrency's limited supply of 21 million.
The purchase comes at the same time that MicroStrategy raised $243 million to fund the acquisition by selling 710,425 shares of its common stock during the same period. The sale is part of the company’s 21/21 capital raising strategy to raise a total of $42 billion through equity and fixed income securities.
The company also recently announced plans for a $2 billion preferred stock offering that analysts believe could attract institutional investors such as pension funds and insurance companies.
According to Benchmark analyst Mark Palmer, this strategy could “unlock an institutional gold mine” for MicroStrategy and diversify its investor base.
MicroStrategy’s latest purchase extends a ten-week streak of Bitcoin purchases that has seen it invest over $18 billion in the cryptocurrency. Last week, the firm purchased 1,070 BTC for $101 million, while the week before it made a $209 million purchase.
*This is not investment advice.
