MicroStrategy Adds Additional 1,070 BTC, Brings Holdings to 447,470 BTC

MicroStrategy, the business intelligence firm known for its aggressive Bitcoin investment strategy, acquired an additional 1,070 Bitcoin last week for approximately $101 million.

The company revealed the purchase in SEC filing on January 6, noting the average holding price was $94,004 per BTC (Bitcoin).

This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 447,470 BTC, purchased at a total cost of $27.97 billion, including fees and expenses. The company’s average price per bitcoin is now $62,503.

At current market rates, MicroStrategy’s Bitcoin holdings are worth more than $44 billion, representing about 2.1% of Bitcoin’s fixed supply of 21 million coins.

MicroStrategy stock hit an all-time high in November, but is currently trading at $352.03 per share in pre-market trading on January 6.

The acquisition coincided with the sale of 319,586 Accurate strategy Shares, achieving $101 million during the same period. This forms part of the company’s ongoing $21 billion fixed income capital raising program, which aims to fund further Bitcoin acquisitions. Last week, MicroStrategy expanded the initiative with a proposed $2 billion preferred stock offering.

“Burn the keys”

Michael Saylor, Co-Founder and CEO of MicroStrategy, And he defended Bitcoin is a cornerstone of the company’s strategy and has gained popularity as the corporate face of Bitcoin.

Saylor views Bitcoin not only as a way to accumulate wealth but also as a contribution to a larger humanitarian movement.

“If you accumulate a lot of wealth in bitcoin and you just burn the keys when you leave, you are making a proportional contribution to everyone who owns bitcoin in the world,” Saylor. He said In a recent interview with Fox.

While some critics Saylor wondered And MicroStrategy’s approach, especially regarding the premium-to-NAV valuation and the equity- and debt-funded Bitcoin strategy, a significant portion of the cryptocurrency market continues to support the company with investor confidence.