As a seasoned researcher with a keen interest in the dynamic world of finance and technology, I find MicroStrategy’s strategic move to continue accumulating Bitcoin at such unprecedented prices intriguing. Having followed the crypto market since its inception, I can say that this is not just a leap of faith, but a calculated risk based on their belief in Bitcoin’s potential as a store of value.
As a passionate crypto investor, I’m always keeping an eye on significant players like MicroStrategy. Even when Bitcoin hit new record highs, this global giant in the public Bitcoin space didn’t hesitate to keep adding more BTC to their holdings.
On the 18th of November, MicroStrategy revealed they had bought approximately 51,780 Bitcoins (Bitcoin) for around $4.6 billion, with each Bitcoin costing an average of $88,627.
Through their recent purchase, MicroStrategy’s Bitcoin holdings now amount to a staggering 331,200 Bitcoins, accumulated at a total expense of approximately $16.5 billion. On average, each Bitcoin was bought for around $49,874.
MicroStrategy uses fresh proceeds from a share sale
MicroStrategy obtained approximately thousands of additional Bitcoins using the funds generated from selling shares, which were agreed upon in a sale contract with firms such as TD Securities on October 30th.
Between Nov. 11 and 13, MicroStrategy sold 13.6 million shares for $4.6 billion.
Currently, as of November 17th, the company has stated that approximately $15.3 billion worth of shares are yet to be sold under the contract, based on a submission made to the U.S. Securities and Exchange Commission.
The transaction took place following Bitcoin surpassing $90,000 for the initial time in the market’s history on November 12th, and subsequently reaching a new peak above $92,400 the following day.
This is a developing story, and further information will be added as it becomes available.
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2024-11-18 16:46