MicroStrategy bags 2,138 Bitcoin for $209 million, boosting total holdings to 446,400 BTC

MicroStrategy announced Monday it had acquired 2,138 Bitcoin for approximately $209 million, at an average price of $97,837 per coin. These purchases were made between December 23 and December 29, bringing the company’s total Bitcoin holdings to 446,400 BTC, valued at around $41.8 billion based on current market prices.

MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2

— Michael Saylor⚡️ (@saylor) December 30, 2024

To fund this Bitcoin acquisition, the Virginia-based company sold shares of its own stock, as detailed in a Monday SEC filing. Last week, MicroStrategy sold 592,987 shares, generating around $209 million in net proceeds.

As of December 30, MicroStrategy still has about $6.8 billion worth of shares available for sale from its planned $21 billion equity offering and an additional $21 billion in fixed-income securities.

Earlier this month, MicroStrategy co-founder and executive chairman Michael Saylor indicated that the company would reassess its capital allocation strategy once it meets its ambitious $42 billion target for Bitcoin investments. Following this statement, the company announced it would hold a special meeting to vote on key proposals designed to enhance its Bitcoin acquisition strategy.

The proposals include increasing the authorized Class A common stock from 330 million to 10.33 billion shares and raising the number of authorized preferred shares from 5 million to 1.005 billion. These changes are intended to provide MicroStrategy with greater flexibility in financing its ongoing Bitcoin purchases.

Since announcing its 21/21 plan, MicroStrategy has acquired over 194,000 BTC worth around $18 billion, achieving about 42% of its planned investment goal in less than two months.

The latest acquisition also marks MicroStrategy’s eighth consecutive week of Bitcoin purchases. Last week, the company announced it had bought 5,000 Bitcoin for $561 million. The announcement came ahead of MicroStrategy’s debut on the Nasdaq 100 index, which could increase the likelihood of large exchange-traded funds buying the stock.