MicroStrategy, one of the world’s largest public holders of Bitcoin, continues stacking BTC even as the cryptocurrency breaks new highs.
On Nov. 18, MicroStrategy officially announced it purchased 51,780 Bitcoin (BTC) for approximately $4.6 billion at an average price of $88,627 per BTC.
With its latest acquisition, MicroStrategy now holds 331,200 BTC bought for $16.5 billion, or $49,874 per BTC.
MicroStrategy uses fresh proceeds from a share sale
To acquire thousands of new BTC, MicroStrategy used fresh proceeds from a share sale under a sales agreement with companies like TD Securities made on Oct. 30, 2024.
During the period between Nov. 11 and Nov. 13, MicroStrategy sold an aggregate of 13.6 million shares under the agreement for $4.6 billion.
As of Nov. 17, around $15.3 billion of shares remained available for issuance and sale pursuant to the agreement, MicroStrategy noted in its 8-K filing with the Securities and Exchange Commission.
The purchase came amid Bitcoin breaking past $90,000 for the first time in history on Nov. 12 and extending gains further to the all-time high of $92,400 the next day.
This is a developing story, and further information will be added as it becomes available.
