Key Takeaways
- MicroStrategi bought 2,138 bitcoins for $209 million, increasing its total holdings to 446,400 BTC.
- MicroStrategi shareholders will vote on the Bitcoin Strategy stock increase in 2025.
MicroStrategi announced on Monday that it bought 2,138 bitcoins for approximately $209 million, at an average price of $97,837 per coin. These purchases were made between December 23 and December 29, bringing the company’s total bitcoin holdings to 446,400 BTC, worth about $41.8 billion based on current market prices.
MicroStrategi bought 2,138 BTC for ~$209 million at a price of ~$97,837/Bitcoin and achieved a BTC yield of 47.8% KTD and 74.1% ITD. From 29.12.2024. we have 446,400 $BTC purchased for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aKSM7g6u2
— Michael Sailor⚡ (@sailor) December 30, 2024
To fund this bitcoin purchase, the Virginia-based company sold shares of its stock, as detailed in an SEC filing on Monday submission. Last week, MicroStrategi sold 592,987 shares, generating about $209 million in net proceeds.
As of Dec. 30, MicroStrategi still has about $6.8 billion of shares available for sale from its planned $21 billion equity offering and an additional $21 billion in fixed income securities.
Earlier this month, MicroStrategi co-founder and executive chairman Michael Saylor hinted that the company will re-evaluate its capital allocation strategy once it meets its ambitious $42 billion target for Bitcoin investments. After this statement, the company announced that it will hold a special meeting for voting on key proposals designed to improve your bitcoin acquisition strategy.
The proposals include an increase in the authorized shares of Class A common stock from 330 million to 10.33 billion shares and an increase in the number of authorized preferred shares from 5 million to 1.005 billion. These changes are intended to provide MicroStrategi with greater flexibility in financing ongoing Bitcoin purchases.
Since announcing its 21/21 plan, MicroStrategi has acquired over 194,000 BTC worth around $18 billion, reaching around 42% of its planned investment goal in less than two months.
The latest acquisition also marks MicroStrategi’s eighth consecutive week of bitcoin purchases. Last week, the company announced he bought 5,000 bitcoins for $561 million. The announcement came ahead of MicroStrategi’s Nasdaq 100 debut, which could increase the likelihood that large exchange-traded funds will buy the stock.
