MicroStrategy expands Bitcoin holdings with $5.4B purchase
MicroStrategy acquired 55,000 Bitcoin for $5.4 billion, boosting its holdings to 386,700 BTC amid bullish institutional sentiment.
MicroStrategy, a publicly traded business intelligence and software firm, reported a substantial expansion of its Bitcoin holdings in a filing on Nov. 25.
The company acquired about 55,000 Bitcoin (BTC) for $5.4 billion between Nov. 18 and 24 at an average price of $97,862 per coin. The purchase was funded through proceeds from recent equity and debt offerings, the filing said.
The latest purchase has pumped MicroStrategy’s total BTC holdings to a massive 386,700 BTC, acquired at a cumulative cost of $21.9 billion — or an average price of $56,761 per coin.
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Author: Josh O'Sullivan
