MicroStrategy adds 1,070 more Bitcoin, holdings reach 447,470 BTC

MicroStrategy, the business intelligence firm known for its aggressive Bitcoin investment strategy, acquired an additional 1,070 BTC last week for approximately $101 million.

The company disclosed the purchase in a SEC Filing on January 6, noting an average acquisition price of $94,004 per Bitcoin (BTC).

This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 447,470 BTC, purchased at a total cost of $27.97 billion, including fees and expenses. The company’s average price per Bitcoin now stands at $62,503.

At current market rates, the value of MicroStrategy’s Bitcoin holdings exceeds $44 billion, representing approximately 2.1% of Bitcoin’s fixed supply of 21 million coins.

MicroStrategy stock hit an all-time high in November, but is currently trading at $352.03 per share in pre-market trading on January 6.

The acquisition coincided with the sale of 319,586 MicroStrategy shares, generating $101 million during the same period. This is part of the company’s current $21 billion in equity and $21 billion in fixed income capital raising program, aimed at funding further Bitcoin acquisitions. Last week, MicroStrategy expanded the initiative with a proposed $2 billion preferred stock offering.

“Burn the keys”

Michael Saylor, co-founder and executive chairman of MicroStrategy, defended Bitcoin is the cornerstone of the company’s strategy and has gained popularity as the corporate face of Bitcoin.

Saylor sees Bitcoin not only as a way to accumulate wealth, but also as a contribution to a broader humanitarian movement.

“If you accumulate a lot of wealth in Bitcoin and simply burn the keys when you leave, you are making a pro-rata contribution to everyone who owns Bitcoin in the world,” Saylor said in a recent interview with Fox.

Although some critics have Saylor asked. and MicroStrategy’s approach, particularly regarding premium to net asset value valuation and its equity- and debt-funded Bitcoin strategy, a large part of the crypto market continues to support the company with investor confidence.