MicroStrategy kicks off the new year by purchasing an additional 1,070 Bitcoin.
A disclosure filed by MicroStrategy – which presents itself as a developer for the Bitcoin network – on Monday showed that the company has increased its holdings of digital Bitcoin, purchasing an additional 1,070 Bitcoins for nearly $101 million, bringing MicroStrategy's total Bitcoin holdings to 447,470 Bitcoins, valued at over $44 billion.
According to the disclosure, MicroStrategy acquired the Bitcoin package at an average price of $94,004 per coin, during the period from December 30 to January 5. MicroStrategy stated that it financed the new Bitcoin purchase by selling 319,586 shares of its stock during the same period as part of planned capital-raising efforts totaling $42 billion, targeting more Bitcoin acquisitions.
It is noteworthy that MicroStrategy, led by CEO Michael Saylor, has spent approximately $27.97 billion on its Bitcoin holdings, with an average purchase price of $62,503 per Bitcoin, making it the largest company by Bitcoin holdings in the market. The recent purchase marks the ninth consecutive week that MicroStrategy has increased its Bitcoin reserves, having bought over $18 billion worth of Bitcoin in just the last two months.
MicroStrategy, which owns about 2.1% of the total global Bitcoin supply, is expected to continue driving corporate treasury adoption in 2025, with projections of over $50 billion in Bitcoin inflows for corporations, up from $24 billion in 2024.
Despite some investor concerns regarding the company's excessive valuation and its use of equity and debt to fund Bitcoin acquisitions, MicroStrategy's stock has risen by over 431% during the past year, leading to the company's inclusion among the top 100 companies on the Nasdaq 100 technology index by the end of last year.