MicroStrategy Reveals Latest $101 Million Bitcoin Acquisition

MicroStrategy, one of the largest corporate holders of Bitcoin, closed out 2024 with a significant purchase, adding 1,070 BTC to its reserves.

The company disclosed the acquisition on January 6, revealing that it spent approximately $101 million in cash during the final two days of December.

According to a filing with the U.S. Securities and Exchange Commission (SEC), the Bitcoin was acquired at an average price of $94,004 per BTC. The purchase was funded through proceeds from the issuance and sale of shares under a convertible notes agreement, consistent with the company’s previous Bitcoin acquisitions.

MicroStrategy’s co-founder and executive chairman, Michael Saylor, had hinted at the acquisition before its official announcement. On January 5, he posted a Bitcoin price chart from the SaylorTracker website, sparking speculation about the company’s plans.

While no additional Bitcoin purchases have been made since December 31, this latest acquisition underscores MicroStrategy’s continued commitment to expanding its Bitcoin holdings, reinforcing its position as a major player in corporate crypto investment.