MicroStrategy Buys 15,400 Bitcoin Using Proceeds from Stock Sale

MicroStrategy Incorporated announced on Monday that it has purchased approximately 15,400 bitcoins at an average price of $95,976 (inclusive of fees and expenses) for a total of around $1.5 billion in cash. This acquisition was financed with proceeds from the sale of Class A common stock under a previously established Sales Agreement.

The company generated approximately $1.48 billion in net proceeds after sales commissions by selling around 3.7 million shares between November 25, 2024, and December 1, 2024. This sale is part of the Sales Agreement that allows for the issuance and sale of up to $21 billion in stock with various financial institutions.

As of December 1, 2024, MicroStrategy's total bitcoin holdings reached approximately 402,100 bitcoins, which were acquired at an average price of $58,263, totaling around $23.4 billion, inclusive of related fees and expenses.

The Sales Agreement initiated with TD Securities (USA) LLC and other selling agents on October 30, 2024, has so far enabled the company to sell shares worth approximately $11.3 billion for future transactions.

MicroStrategy's recent activities highlight its strategy of expanding its cryptocurrency portfolio by utilizing stock issuance capacity and its ongoing commitment to investing in bitcoin.