MicroStrategy (MSTR) said Monday it acquired 5,262 bitcoins at an average price of $106,662 each, using the proceeds from the sale of 1.32 million shares, which raised $561 million.
By leveraging both equity and convertible debt while taking advantage of the equity premium, the company was able to grow its bitcoin holdings at a faster pace than it was diluting its shares.
As of Dec. 22, MicroStrategy said it had approximately $7.08 billion of shares available for issuance under its agreement.
MicroStrategy stock is currently trading at $343.8 per share and is down more than 11% since the beginning of the month