MicroStrategy, a major corporate Bitcoin holder, announced it acquired approximately 15,400 BTC between Nov. 25 and Dec. 1. The purchase, funded by $1.5 billion raised through a stock sale under its at-the-market (ATM) equity program, was executed at an average price of $95,976 per Bitcoin.
In a Dec. 2 filing to United States Securities and Exchange, the company also revealed it sold 3.7 million shares of its Class A common stock during the same period, generating $1.48 billion in net proceeds. The funds were used to purchase the 15,400 Bitcoin (BTC).
MicroStrategy remains the largest corporate Bitcoin holder. Source: BitcoinTreasuries
As of Dec. 1, MicroStrategy and its subsidiaries hold 402,100 BTC, worth around $38.4 billion at current market prices, purchased at an aggregate cost of $23.4 billion, or an average of $58,263 per Bitcoin. This means the firm is up by 64% on its Bitcoin investments.
MicroStrategy spent $5.4 billion on Bitcoin the previous week
The $1.5 billion purchase follows a larger Bitcoin investment from the company the week before.
Between Nov. 18 and 24, the company acquired 55,000 BTC for $5.4 billion at an average price of $97,862 per coin, according to a regulatory filing.
The funding for the massive purchase came from multiple sources, including a private offering of 0% convertible senior notes due in 2029, as well as proceeds from the company’s ongoing at-the-market equity program.
Related: Solv to launch ‘onchain MicroStrategy’
Michael Saylor tells Microsoft to buy Bitcoin
Beyond expanding its own Bitcoin holdings, MicroStrategy executive chairman Michael Saylor has called on tech giant Microsoft to adopt a similar strategy.
In a pitch to Microsoft’s board, the MicroStrategy chair and Bitcoin bull said that Microsoft could increase its market capitalization by almost $5 trillion if it goes all-in on Bitcoin. Saylor said that Microsoft cannot afford to miss the next tech wave and that “Bitcoin is that wave.”
Saylor said Microsoft should convert its dividend payouts, stock buybacks, cash flows and debt into Bitcoin, adding that this would add “hundreds of dollars” to the company’s stock price.
Saylor also claimed that BTC could add up to $584 to Microsoft’s share price in the next decade. “You can create trillions of dollars of enterprise value. You can strip away risk from your shareholders,” he added.
Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining
