MicroStrategy has made another significant move in its Bitcoin accumulation strategy, purchasing 21,550 BTC for approximately $2.1 billion, according to an official filing on Monday.
The acquisition, conducted between December 2 and December 8, was executed at an average price of $98,783 per Bitcoin.
With this latest purchase, the business intelligence giant now holds a total of 423,650 BTC, valued at around $42 billion.
MicroStrategy’s Fifth Consecutive Week of Bitcoin Purchase
The latest acquisition marks the firm’s fifth consecutive week of Bitcoin investments.
Just last week, MicroStrategy acquired 15,400 BTC for $1.5 billion at an average price of $95,976 per coin.
The company financed the recent transaction through the sale of approximately 5.4 million shares of its common stock, part of a broader $21 billion equity offering authorized in October 2024.
MicroStrategy plans to raise $42 billion over the next three years, with the funding split evenly between equity and fixed-income securities.
Of this, $9.19 billion worth of shares remains available for future sales.
Co-founder and executive chairman Michael Saylor revealed that the firm’s Bitcoin holdings were acquired at an average cost of $60,324 per BTC, totaling $25.6 billion, including fees.
The company’s Bitcoin Yield has reached 68.7% year-to-date as of December 9.
MicroStrategy has acquired 21,550 BTC for ~$2.1 billion at ~$98,783 per #bitcoin and has achieved BTC Yield of 43.2% QTD and 68.7% YTD. As of 12/8/2024, we hodl 423,650 $BTC acquired for ~$25.6 billion at ~$60,324 per bitcoin. $MSTR https://t.co/8r7bFqMFof
— Michael Saylor
(@saylor) December 9, 2024
Amazon to Consider Bitcoin Investment
Just today, the National Center for Public Policy Research, a Washington, D.C.-based think tank advocating for free-market principles, called on Amazon to consider adopting a Bitcoin-focused corporate treasury strategy.
In its submission to Amazon, the think tank raised concerns over inflation’s impact on corporate reserves.
It criticized the Consumer Price Index (CPI), which currently estimates inflation at 4.95%, as a “remarkably poor measure” of actual currency debasement.
The organization suggested that the real inflation rate could be significantly higher, potentially double the official CPI figure.
The proposal is set to be discussed at the company’s April 2025 shareholder meeting.
The NCPPR’s proposal aligns with a broader push for institutional Bitcoin adoption.
In October, it urged Microsoft to invest in Bitcoin through a similar letter. However, Microsoft advised shareholders to reject it, stating management already evaluates such matters.
The proposal will be discussed this week at Microsoft’s annual meeting on December 10.
Last week, Bitcoin’s price dip to $92,957 spurred major acquisitions by BlackRock and MARA Holdings, who collectively purchased 9,173 Bitcoin.
BlackRock made the most significant move, purchasing 7,750 Bitcoin.
This acquisition pushed the asset management giant’s total Bitcoin holdings to $48.9 billion.
Bitcoin miner MARA Holdings added 1,423 Bitcoin in four transactions between December 5 and 6, valued at $139.5 million.
The acquisitions came after the firm closed its second $850 million convertible note offering, earmarked for boosting Bitcoin reserves.
MARA now holds 22,108 Bitcoin worth $2.17 billion, reflecting a staggering 162% increase in its holdings compared to last month.
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