MicroStrategy announced on Monday that the company has purchased an additional 2,138 Bit at an average price of $97,837 per Bit, for a total of approximately $209 million. These transactions were executed between December 23 and December 29, bringing the company's total holdings to 446,400 BTC, equivalent to approximately $41.8 billion at the current market value.
To finance the additional Bit purchases, the Virginia-based company executed a sale of 592,987 shares last week, raising approximately $209 million in net proceeds, as detailed in the filing with the U.S. Securities and Exchange Commission (SEC) on Monday.
As of December 30, MicroStrategy has approximately $6.8 billion in equity securities available for sale from its $21 billion equity offering plan, along with an additional $21 billion in fixed-income securities. This demonstrates the company's strong financial strategy to continue investing in Bit.
Earlier this month, Michael Saylor, the co-founder and Executive Chairman of MicroStrategy, announced that the company will review its capital allocation strategy after achieving its ambitious $42 billion Bit investment target.
Following the announcement of the additional Bit purchase, MicroStrategy has scheduled a special meeting to vote on important proposals to expand the company's Bit acquisition strategy. These proposals include increasing the authorized Class A common stock from 330 million to 10.33 billion shares, and increasing the authorized preferred stock from 5 million to 1.005 billion shares. These changes are intended to better facilitate MicroStrategy's future Bit acquisition transactions.
Since announcing the 21/21 plan, MicroStrategy has purchased over 194,000 BTC, valued at approximately $18 billion, achieving around 42% of its planned investment target in less than two months. The latest purchase also marks the eighth consecutive week that MicroStrategy has continued to acquire Bit, demonstrating the company's strong commitment to its digital asset investment strategy.
Last week, the company announced the purchase of an additional 5,000 Bit, valued at $561 million, a notable move ahead of MicroStrategy's inclusion in the Nasdaq 100 index, which may increase the attention from large ETF funds towards the company's stock.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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