- Between December 2 and December 8, 2024, MicroStrategy paid almost $2.1 billion in cash for about 21,550 bitcoin.
- Each coin cost about $98,783 on average to buy.
MicroStrategy, a business analytics provider, revealed on Monday that between December 2 and December 8, 2024, it paid almost $2.1 billion in cash for about 21,550 bitcoin. The average purchase price per coin, including fees and expenditures, was approximately $98,783.
Proceeds from the issuing and sale of company shares were used to fund the bitcoin transactions. According to a filing with the U.S. Securities and Exchange Commission, MicroStrategy sold 5,418,449 shares between December 2 and December 8, 2024, with total net proceeds of around $2.13 billion.
As of December 8, MicroStrategy had an estimated total of 423,650 bitcoin. The lawsuit states that those bitcoins were purchased for a total of about $60,324 each. The overall cost of the company’s bitcoin assets was about $25.6 billion.
This is the seventh week in a row that MicroStrategy has bought a significant amount of bitcoin. The price of bitcoin has risen by almost 40% during that time, while MicroStrategy’s stock (ticker MSTR) has gained by nearly 20%. While some financial analysts have praised the company’s corporate bitcoin strategy, others have been perplexed by the stock’s 480% year-to-date gain.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
