MicroStrategy (MSTR) Acquires $5.4 Billion in Bitcoin, Largest Purchase Yet

Nov 25, 2024

MicroStrategy (MSTR, Financial) has made its largest Bitcoin acquisition to date, purchasing approximately $5.4 billion worth of the cryptocurrency. This marks a significant milestone for the company, which began its Bitcoin investment strategy over four years ago.

The company announced that it recently acquired 55,500 Bitcoins at an average price of $97,862 per Bitcoin, including fees and expenses. This purchase brings MicroStrategy's total Bitcoin holdings to around 386,700 Bitcoins, valued at nearly $38 billion.

To finance this substantial acquisition, MicroStrategy recently sold $3 billion in convertible bonds and issued nearly $2.5 billion in stock. The company's aggressive strategy underscores its strong commitment to Bitcoin as a central part of its investment portfolio.

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