MicroStrategy Purchases Additional 10,107 BTC for $1.1B

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Between January 21 and 26, MicroStrategy acquired 10,107 BTC for approximately $1.1 billion, paying an average price of about $105,596 per coin.

A recent Form K-8 indicates the company financed the Bitcoin purchases using proceeds from the sale of 2,765,157 shares of its common stock. The firm still holds unsold shares amounting to $4.35 billion in potential proceeds.

As of January 26, MicroStrategy increased its Bitcoin reserves to 471,107 BTC. Since August 2020, it has invested $30.4 billion in the leading cryptocurrency—an average acquisition price of $64,511 per coin.

At press time, BTC is trading around $101,300.

MicroStrategy also announced plans to sell 2,500,000 shares of its Series A common stock. The proceeds will fund operational expenses and further Bitcoin purchases.

Context

  • On January 24, MicroStrategy disclosed it would redeem $1.05 billion in convertible bonds due 2027.