Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the recent purchases of a further 21,550 Bitcoin by MicroStrategy.
MicroStrategy Buys 21,550 More Bitcoin
Between the 2nd and the 8th of December MicroStrategy managed to acquire a further 21,550 Bitcoin at an average price of $98,783 per Bitcoin. This equated to approximately $2.1 billion, according to an official filing on Monday. The latest purchase of Bitcoin brings MicroStrategy's total to 423,650 BTC, valued at around $42 billion. It was also the fifth consecutive week of Bitcoin investments for the company.
Just last week MicroStrategy acquired 15,400 BTC for $1.5 billion at an average price of $95,976 per coin. MicroStrategy now controls over 2% of the 21 million bitcoin that will ever exist. Regulatory filings noted that the purchase was funded via a $2.13 billion share sale which is a part of MicroStrategy's $42 billion plan to purchase bitcoin by issuing shares and convertible note offerings. They sold approximately 5.4 million shares of common stock with the equity offering authorised back in October of this year.
Of the $42 billion MicroStrategy plan to raise over the next three years, it will be a funding split evenly between equity and fixed-income securities. Currently $9.19 billion worth of shares remain available for future sales.
According to MicroStrategy co-founder and executive chairman Michael Saylor the firms Bitcoin holdings have been purchased for an average price of $60,324 per Bitcoin. This price includes fees and as of early December the firms Bitcoin Yield has reached 68.7% year-to-date. However, as Bitcoin dropped towards the $98,000 mark MicroStrategy stock was down roughly 4% in recent trading.
MicroStrategy are not the only company to invest in Bitcoin, with many others taking a leaf out of their book by adding cryptocurrency to their accounts. The Bitcoin miner Riot Platforms have unveiled a $500 million convertible bond offering in a bid to buy more Bitcoin. Marathon Holdings and Semler Scientifc have also announced their plans to purchase more Bitcoin. Marathon Holdings managed to add 1,423 Bitcoin in four transactions in December, valued at $139.5 million. They now hold 2,108 Bitcoin with an estimated value of $2.17 billion.
Have a great day.
Peace. CryptoGod-1.
Referral Links and Follow Me:
