MicroStrategy, led by Michael Saylor, expanded its Bitcoin holdings by purchasing 55,000 more coins between November 18 and November 24, according to an 8-K filing dated November 25.
This acquisition, worth $5.4 billion, marks the software firm’s largest purchase to date.
MicroStrategy Increases Bitcoin Holdings With $5.4 Billion Purchase
The Virginia-based company disclosed in its Monday filing with the United States Securities and Exchange Commission (SEC) that the purchase was funded through convertible note offerings and the sale of shares.
The average acquisition price was $97,862 per Bitcoin, cementing MicroStrategy’s status as one of the largest corporate holders of the cryptocurrency.
With this latest purchase, MicroStrategy’s Bitcoin holdings now total 386,700, acquired for approximately $21.9 billion and currently valued at $56,761.
Taking into account Bitcoin’s current market value, the company’s crypto portfolio is estimated to be worth over $37 billion.
This monumental acquisition aligns with the company’s strategy to leverage convertible notes and share sales for crypto investments.
Just days prior, MicroStrategy completed a $3 billion offering of convertible notes due in 2029, providing fresh capital for its ongoing Bitcoin acquisitions.
Michael Saylor’s Bullish Outlook on Bitcoin
Michael Saylor shared his optimistic outlook during a recent CNBC interview, emphasizing the scale of MicroStrategy’s operations.
“We’re making $500 million a day,” Saylor said. “I’m staring at my screen, and we’re selling dollar bills for $3, sometimes a million times a minute.”
The company’s stock performance has significantly outpaced the S&P 500, thanks largely to its massive Bitcoin reserves.
Despite Saylor’s confidence, Bitcoin prices appeared to stabilize on Monday, hovering around $95,000 after approaching $100,000 last week.
Bitcoin’s recent surge follows the election of President-elect Donald Trump, who has pledged to introduce a crypto-friendly regulatory framework and restructure federal agencies to support digital assets.
Saylor expressed confidence in Bitcoin’s trajectory earlier this month during another CNBC appearance.
He remarked, “I’m planning the $100,000 party,” adding that he envisions hosting it on New Year’s Eve if Bitcoin surpasses that milestone by December.
In a November 21 X post, Saylor highlighted the company’s $3 billion convertible notes offering, emphasizing its 0% coupon rate and 55% premium.
The post Michael Saylor’s MicroStrategy Buys 55,000 More Bitcoin appeared first on Cryptonews.
