Breaking: MicroStrategy Acquires 21,550 Bitcoin in Latest Purchase
MicroStrategy has recently made another significant move in its strategy to accumulate Bitcoin. According to an official filing on Monday, the company purchased 21,550 BTC for approximately $2.1 billion. The acquisition took place between December 2 and December 8, with an average price of $98,783 per Bitcoin.
With this latest purchase, MicroStrategy now holds a total of 423,650 BTC, which is valued at around $42 billion. This marks the firm’s fifth consecutive week of Bitcoin investments. Last week, MicroStrategy acquired 15,400 BTC for $1.5 billion at an average price of $95,976 per coin.
To finance the recent transaction, the company sold approximately 5.4 million shares of its common stock, which is part of a broader $21 billion equity offering authorized in October 2024. MicroStrategy plans to raise $42 billion over the next three years, with the funding split evenly between equity and fixed-income securities. Currently, $9.19 billion worth of shares is available for future sales.
Co-founder and executive chairman Michael Saylor revealed that the firm’s Bitcoin holdings were acquired at an average cost of $60,324 per BTC, totaling $25.6 billion, including fees. As of December 9, the company’s Bitcoin yield has reached 68.7% year-to-date.
In other news, the National Center for Public Policy Research, a Washington, D.C.-based think tank advocating for free-market principles, has called on Amazon to consider adopting a Bitcoin-focused corporate treasury strategy. The think tank submitted a proposal to Amazon, raising concerns over the impact of inflation on corporate reserves. It criticized the current estimate of inflation at 4.95%, provided by the Consumer Price Index (CPI), as a “remarkably poor measure” of actual currency debasement. The organization suggested that the real inflation rate could be significantly higher, possibly double the official CPI figure. The proposal will be discussed at Amazon’s shareholder meeting in April 2025.
This proposal aligns with a broader push for institutional Bitcoin adoption. In October, the think tank urged Microsoft to invest in Bitcoin through a similar letter, but Microsoft advised shareholders to reject it, stating that management already evaluates such matters. The proposal will be discussed at Microsoft’s annual meeting on December 10.
Last week, Bitcoin experienced a price dip to $92,957, which prompted major acquisitions by BlackRock and MARA Holdings. Together, they purchased 9,173 Bitcoin. BlackRock made the most significant move, acquiring 7,750 Bitcoin. This acquisition increased the asset management giant’s total Bitcoin holdings to $48.9 billion. Bitcoin miner MARA Holdings added 1,423 Bitcoin in four transactions between December 5 and 6, valued at $139.5 million. These acquisitions followed the closure of MARA’s second $850 million convertible note offering, which aimed to boost Bitcoin reserves. MARA now holds 22,108 Bitcoin worth $2.17 billion, reflecting a staggering 162% increase in its holdings compared to last month.