MicroStrategy, the largest corporate Bitcoin holder, has added 2,138 Bitcoin (BTC) to its treasury between December 23-29, 2023, in a purchase worth approximately $209 million. The company now holds a total of 446,400 BTC.
The Virginia-based business intelligence firm acquired the latest batch at an average price of $97,837 per Bitcoin. With this addition, MicroStrategy's total Bitcoin investment stands at $27.9 billion, with an average purchase price of $62,428 per BTC.
The purchase was financed through the sale of 592,987 company shares, generating around $209 million in net proceeds. This marks the eighth consecutive week of Bitcoin acquisitions by the company.
Michael Saylor, MicroStrategy's executive chairman, continues to demonstrate unwavering confidence in Bitcoin, maintaining the company's aggressive acquisition strategy regardless of market prices.
To support future Bitcoin purchases, MicroStrategy has filed with the SEC to increase its authorized shares. The company seeks to expand its Class A common stock from 330 million to 10.33 billion shares and preferred stock from 5 million to over 1 billion shares.
The company still has approximately $6.8 billion worth of shares available for sale from its planned $21 billion equity offering, along with an additional $21 billion in fixed-income securities.
Since launching its 21/21 plan in October, MicroStrategy has purchased over 194,000 BTC worth approximately $18 billion, achieving 42% of its investment goal in under two months.
At the time of the announcement, Bitcoin was trading at $94,462, marking a 0.8% increase for the day. MicroStrategy's current Bitcoin holdings are valued at approximately $41.5 billion, reinforcing its position as the largest corporate holder of the cryptocurrency.