MicroStrategy, a prominent corporate Bitcoin investor, disclosed that it acquired about 15,400 BTC between November 25 and December 1. This acquisition, financed through a $1.5 billion stock sale under its at-the-market (ATM) equity program, was made at an average price of $95,976 per Bitcoin.
In a December 2 filing with the U.S. Securities and Exchange Commission, the company confirmed the sale of 3.7 million shares of its Class A common stock during the same timeframe, raising $1.48 billion in net proceeds. These funds were fully utilized to purchase the newly acquired Bitcoin.
As of December 1, MicroStrategy and its subsidiaries collectively hold 402,100 BTC. With a total cost basis of $23.4 billion, or an average of $58,263 per Bitcoin, the holdings are valued at approximately $38.4 billion at current market prices, reflecting a 64% gain on the company’s Bitcoin investments.
MicroStrategy spent $5.4 billion on Bitcoin the previous week
This $1.5 billion investment follows an even larger acquisition the week prior. Between November 18 and 24, the firm purchased 55,000 BTC at an average price of $97,862 per coin, costing a total of $5.4 billion.
To finance this massive purchase, MicroStrategy utilized several funding mechanisms, including proceeds from a private offering of 0% convertible senior notes maturing in 2029, as well as additional funds raised through its ATM equity program.
Michael Saylor tells Microsoft to buy Bitcoin
In addition to bolstering MicroStrategy’s Bitcoin reserves, the company’s executive chairman, Michael Saylor, has urged tech giant Microsoft to embrace Bitcoin.
In a direct appeal to Microsoft’s board, Saylor, a staunch Bitcoin advocate, suggested that Microsoft could increase its market value by nearly $5 trillion by fully committing to Bitcoin. He emphasized that Bitcoin represents the next major technological shift, one Microsoft cannot afford to overlook.
Saylor proposed that Microsoft should redirect dividend payments, stock buybacks, cash flows, and even debt into Bitcoin, claiming this move could significantly enhance the company’s stock performance. He estimated that Bitcoin adoption could add up to $584 per share to Microsoft’s stock price within the next decade.
“You can create trillions of dollars in enterprise value and shield your shareholders from risk,” Saylor stated, positioning Bitcoin as the cornerstone of future growth for major corporations.
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