MicroStrategy acquires another 21,550 bitcoin for roughly $2.1 billion

Companies • December 9, 2024, 8:40AM EST
Published 1 minute earlier on
The Block

Quick Take

  • MicroStrategy acquired approximately 21,550 bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, 2024.
  • The average purchase price was roughly $98,783 per coin.

Business intelligence firm MicroStrategy announced Monday it acquired approximately 21,550 bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, 2024. The average purchase price was roughly $98,783 per coin, including fees and expenses.

The bitcoin purchases were conducted using proceeds from the issuance and sale of company shares. Between Dec. 2 and Dec. 8, 2024, MicroStrategy sold an aggregate of 5,418,449 shares for aggregate net proceeds of approximately $2.13 billion, according to a filing with the U.S. Securities and Exchange Commission.

MicroStrategy held an approximated aggregate of 423,650 bitcoin as of Dec. 8. The aggregate purchase price of said bitcoins equates to roughly $60,324 per coin, according to the filing. The firm's bitcoin holdings cost it approximately $25.6 billion in total.

This marks the fifth straight week that MicroStrategy has made a substantial purchase of bitcoin. The price of bitcoin has appreciated about 40% during that time while MicroStrategy's stock (ticker MSTR) has risen about 20%. The stock’s 480% year-to-date surge has puzzled financial pundits while others have cheered its corporate bitcoin strategy.


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About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].

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