- MicroStrategy bought additional Bitcoins for billions of dollars.
- The Bitcoins were acquired between November 11 and 17.
- The company plans to buy more BTC in the future.
Business intelligence firm MicroStrategy has acquired additional Bitcoins worth billions of dollars, solidifying its position as the leading corporate holder of the original cryptocurrency.
The latest acquisition represents MicroStrategyโs largest BTC acquisition and came barely a week after the Tysons Corner, Virginia-based company bought another 27,200 Bitcoins for about $2.03 billion in cash between October 31 and November 10 using proceeds from the issuance of stock sales.
MicroStrategy Buys 51,780 Bitcoins
According to a U.S. Securities and Exchange Commissionโs (SEC) filing on Monday, MicroStrategy bought 51,780 Bitcoins for about $4.6 billion in cash between November 11 and 17. The Bitcoins were acquired at an average price of $88,627 per BTC using proceeds from the sale of 13,593,865 MicroStrategy shares.
Sponsored
MicroStrategyโs chairman and co-founder, Michael Saylor, confirmed that the company and its subsidiaries held 331,200 BTC in their treasury. These Bitcoins were bought for $16.5 billion at an average price of $49,874 per BTC and are now worth nearly $120 billion at the current market rate.
While MicroStrategy is the largest corporate Bitcoin holder, according to BitcoinTreasuries data, the company doesnโt plan to slow down on its aggressive accumulation strategy, underscoring its commitment to the original crypto.
The company said in the SEC filing that it had another $15.3 billion worth of shares for issuance and sale to fund additional Bitcoin purchases. The multibillion-dollar shares are part of MicroStrategyโs planned $21 billion equity offering and $21 billion in fixed-income securities to raise $42 billion in capital over the next three years for Bitcoin acquisitions.
In another development, Japanโs Metaplanet announced on Monday the issuance of one-year ordinary bonds totaling 1.75 billion yen ($11.3 million) to buy more Bitcoins, highlighting the increasing institutional interest in the largest crypto asset by market cap.
CoinMarketCap data shows that Bitcoin had lost about 0.97% in the last 24 hours, trading at $89,804 at press time.
Read about MicroStrategyโs growing financial muscle:
MicroStrategyโs Bitcoin Trove Flips Nike, IBM Cash Holdings
Stay updated on XRPโs recent massive rally:
XRP Soars 111% in 15 Days: Whatโs Driving the Surge?