MicroStrategy acquires another 21,550 bitcoin for roughly $2.1 billion

Business intelligence firm MicroStrategy announced Monday it acquired approximately 21,550 bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, 2024. The average purchase price was roughly $98,783 per coin, including fees and expenses.

The bitcoin purchases were conducted using proceeds from the issuance and sale of company shares. Between Dec. 2 and Dec. 8, 2024, MicroStrategy sold an aggregate of 5,418,449 shares for aggregate net proceeds of approximately $2.13 billion, according to a filing with the U.S. Securities and Exchange Commission.

MicroStrategy held an approximated aggregate of 423,650 bitcoin as of Dec. 8. The aggregate purchase price of said bitcoins equates to roughly $60,324 per coin, according to the filing. The firm's bitcoin holdings cost it approximately $25.6 billion in total.

This marks the fifth straight week that MicroStrategy has made a substantial purchase of bitcoin. The price of bitcoin has appreciated about 40% during that time while MicroStrategy's stock (ticker MSTR) has risen about 20%. The stock’s 480% year-to-date surge has puzzled financial pundits while others have cheered its corporate bitcoin strategy.