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.

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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.

Alexander Zdravkov