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MicroStrategy has executed another notable step in its Bitcoin acquisition strategy, acquiring 21,550 BTC for roughly $2.1 billion, as detailed in an official filing on Monday.
This purchase, carried out between December 2 and December 8, was made at an average cost of $98,783 per Bitcoin.
With this recent acquisition, the business intelligence firm now possesses a total of 423,650 BTC, valued at approximately $42 billion.
MicroStrategy’s Fifth Consecutive Week of Bitcoin Acquisition
This latest purchase signifies the firm’s fifth consecutive week of Bitcoin investments.
Just the previous week, MicroStrategy acquired 15,400 BTC for $1.5 billion at an average price of $95,976 per coin.
The company financed this recent transaction through the sale of around 5.4 million shares of its common stock, part of a larger $21 billion equity offering approved in October 2024.
MicroStrategy aims to raise $42 billion over the next three years, with the funding divided equally between equity and fixed-income securities.
Of this total, $9.19 billion worth of shares remains available for future sales.
Co-founder and executive chairman Michael Saylor disclosed that the firm’s Bitcoin holdings were acquired at an average cost of $60,324 per BTC, amounting to $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
Today, the National Center for Public Policy Research, a Washington, D.C.-based think tank promoting free-market principles, urged Amazon to contemplate adopting a Bitcoin-centric corporate treasury strategy.
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In its communication to Amazon, the think tank expressed concerns regarding inflation’s effect 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 devaluation.
The organization proposed that the true inflation rate could be significantly higher, potentially double the official CPI figure.
This proposal is scheduled for discussion at the company’s April 2025 shareholder meeting.
The NCPPR’s suggestion aligns with a broader movement advocating for institutional Bitcoin adoption.
In October, it encouraged Microsoft to invest in Bitcoin through a similar letter. However, Microsoft advised shareholders to reject it, indicating that management already assesses such issues.
The proposal will be addressed this week at Microsoft’s annual meeting on December 10.
Last week, Bitcoin’s price drop to $92,957 prompted significant acquisitions by BlackRock and MARA Holdings, who together purchased 9,173 Bitcoin.
BlackRock made the most substantial move, acquiring 7,750 Bitcoin.
This acquisition increased 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 followed the firm’s closure of its second $850 million convertible note offering, intended to enhance Bitcoin reserves.
MARA now holds 22,108 Bitcoin worth $2.17 billion, reflecting an impressive 162% increase in its holdings compared to the previous month.
The post Breaking: MicroStrategy Acquires 21,550 Bitcoin in Latest Purchase appeared first on Cryptonews.
