MicroStrategy has acquired 21,550 bitcoins worth approximately $2.1 billion at current prices, bringing its total holdings to 423,650 BTC. This purchase marks the fifth consecutive week the company has added to its bitcoin stash. The funds were sourced from a $2.13 billion share sale as part of MicroStrategy’s plan to acquire up to 42 million bitcoins by issuing shares and convertible note offerings.
The acquisition comes at an average price of $98,783 per bitcoin, reflecting the recent surge in bitcoin prices following the re-election of Donald Trump. However, despite this investment, MicroStrategy stock fell roughly 4% in recent trading due to a decline in bitcoin prices below $98,000.
Other companies, including Riot Platforms and Marathon Holdings, have also announced plans to acquire more bitcoins, with Riot Platforms unveiling a $500 million convertible note offering.
Source: https://www.investopedia.com/microstrategy-buys-another-usd2-1-billion-of-bitcoin-8758237