MicroStrategy Continues Its Bitcoin Acquisition Spree

MicroStrategy Inc. has once again made headlines in the cryptocurrency world with its latest acquisition of 15,400 Bitcoins. The company revealed this information in a filing report on Monday, stating that the purchase was made for approximately $1.5 billion in cash at an average price of $95,976 per Bitcoin between November 25 and December 1.

This latest transaction significantly bolsters MicroStrategy's Bitcoin holdings, bringing the total to around 402,110 Bitcoins. These were acquired for approximately $23.4 billion at an average purchase price of $58,263 per Bitcoin. The company's commitment to Bitcoin as a strategic asset is evident in these substantial investments.

In addition to the Bitcoin acquisition, MicroStrategy also announced that it sold an aggregate of 3,728,507 shares during the same period. These shares were sold for net proceeds of around $1.48 billion under a Sales Agreement with several prominent financial institutions. After this transaction, MicroStrategy had $11.3 billion of shares left available for issuance and sale.

The company's stock showed a positive reaction to these announcements, rising 0.75% during premarket hours. At 8:41 am ET, the stock was trading at $387.47, reflecting investor confidence in MicroStrategy's strategic direction.