Corporate analytics company and major holder of Bitcoin, MicroStrategy, increased its Bitcoin holdings by purchasing an additional 55,500 BTC for $5.4 billion between November 18 and 24, at an average price of $97,862 per Bitcoin.
This acquisition is the largest to date for the company and follows their successful $3 billion debt offering on November 21, with net proceeds of $2.97 billion. In addition, MicroStrategy sold 5,597,849 of its shares for $2.46 billion during this period.
As of November 24, the company still has approximately $12.8 billion in shares available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities, with a target of raising a total of $42 billion in the next three years to continue purchasing Bitcoin.
With this latest acquisition, MicroStrategy now holds a total of 386,700 BTC worth over $37 billion, bought at an average price of $56,761 per Bitcoin, including fees and expenses, according to the company’s co-founder and executive chairman, Michael Saylor.
