Bitcoin Buyer Spree: MicroStrategy Acquires $4.6B In BTC, Metaplanet Issues $11.4M In Bonds To Fund Purchases
Posted On November 18, 2024
MicroStrategy Inc. (NASDAQ:MSTR) has announced the acquisition of 51,780 Bitcoin (CRYPTO: BTC) for approximately $4.6 billion, with an average price of $88,627 per coin.
What Happened: According to the company’s SEC filing on Monday, this purchase occurred between Nov. 11and Nov. 17, funded through proceeds from the issuance and sale of shares under its Sales Agreement.
As of Nov. 17, MicroStrategy and its subsidiaries hold an aggregate of 331,200 BTC, acquired at a total purchase price of approximately $16.5 billion and an average cost of $49,874 per Bitcoin.
MicroStrategy views Bitcoin as a strategic reserve asset, offering exposure to digital assets as an alternative …
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