MicroStrategy Buys 15,400 BTC, Boosting Holdings To 402,100 Bitcoin
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Market Musing-g
MicroStrategy Buys 15,400 BTC, Boosting Holdings To 402,100 Bitcoin
Bitcoin
BTC
Thecoinrepublic.com
By Thecoinrepublic.com
24 minutes ago
•
3 mins read
MicroStrategy Buys 15,400 BTC, Boosting Holdings To 402,100 Bitcoin
Table of Contents
Funding Raised Through Share Sales
A Precedent to Bitcoin Adoption by Companies
MicroStrategy’s Position in the Public Markets for Bitcoin Holdings
MicroStrategy (NASDAQ: MicroStrategy (MSTR), the largest corporate holder of Bitcoin, has increased its holding by making another Bitcoin purchase of 15,400 BTC worth $1.5 Billion. The purchase was made at an average price of $95,976 per Bitcoin totaling MicroStrategy holdings to 402,100 BTC.
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This latest purchase further bolsters MicroStrategy’s aggressive Bitcoin investment approach thus making it one of the largest institutional investors in the cryptocurrency market.
Funding Raised Through Share Sales
MicroStrategy’s latest purchase of Bitcoin was made through a share sale agreement. From November 25 to December 1, 2024, the company offered shares of stock and generated $1.48 Billion. The sale is part of the plan to sell Microstrategy’s shares up to $21 Billion.
The company’s Bitcoin investments have risen significantly, owing to the long-term Bitcoin price uptrend and the company’s confidence in Bitcoin as a store of value.
MicroStrategy has adopted an aggressive policy of buying Bitcoin, which has positively impacted its stock prices. In the last month, the stock price rose by nearly 50%, with a 150% increase over six months and a staggering 500% rise year-to-date.
With large Bitcoin holdings, MicroStrategy will gain more as Bitcoin continues to surge and nears the key resistance level of $100,000. BTC has been trying to break the $100K for the past few weeks.
The company’s share price surge has also drawn attention from investors looking for exposure to Bitcoin without directly buying the cryptocurrency.
