MicroStrategy Acquires 21,550 Bitcoins for $2.1 Billion

YEREVAN (CoinChapter.com) — MicroStrategy expanded its Bitcoin holdings last week by purchasing 21,550 tokens. The company spent $2.1 billion, averaging $98,783 per Bitcoin, as noted in a regulatory filing on Monday. The acquisition was funded through $2.13 billion raised via its at-the-market (ATM) share sales facility.
This transaction brings MicroStrategy’s total Bitcoin holdings to 423,650 tokens, valued at approximately $42 billion at current prices. The firm now owns over 2% of all 21 million Bitcoins that will ever exist. Executive Chairman Michael Saylor continues to lead the company’s cryptocurrency acquisition strategy.
Bitcoin Holdings Grow Amid Market Milestones
MicroStrategy’s $2.1 billion Bitcoin purchase coincided with the cryptocurrency surpassing the $100,000 price mark for the first time. Market activity in the United States played a role in driving the increase, with significant investor participation.
U.S. spot Bitcoin exchange-traded funds (ETFs) also experienced substantial inflows during this period. According to data from Farside Investors, these ETFs received $2.73 billion in new funds last week. This aligns with the timing of MicroStrategy’s purchase, which may have contributed to increased market activity.
Stock Impact and Remaining ATM Sale Capacity
Despite the substantial acquisition, MicroStrategy’s shares saw a 1% decline, trading at $395 in premarket activity on Monday. This decrease aligned with a slight dip in Bitcoin prices, which were at $99,000 after briefly crossing $100,000.
The company’s ATM share sales facility still has $9.19 billion in capacity, leaving room for further acquisitions. MicroStrategy’s growing Bitcoin holdings underscore its continued focus on cryptocurrency as a key asset.
Corporate Bitcoin Strategies Expand Further
In related developments, Riot Platforms (RIOT), a leading Bitcoin mining firm, announced plans to raise $500 million through convertible notes. These funds are primarily intended for acquiring additional Bitcoin.
MicroStrategy’s Bitcoin holdings now represent a significant portion of the cryptocurrency’s total supply, highlighting the ongoing corporate adoption of digital assets.