MicroStrategy, the world’s largest corporate holder of Bitcoin, announced it purchased 15,400 Bitcoin (BTC) for approximately $1.5 billion, bringing its total Bitcoin holdings to 402,100 BTC. At today’s market prices, the newly acquired Bitcoin is valued at roughly $38.66 billion. 

Funding the Purchase

According to a filing with the U.S. Securities and Exchange Commission (SEC), the company entered into a sales agreement allowing it to sell up to $21 billion in common stock. Between November 25 and December 1, 2024, MicroStrategy sold approximately $1.48 billion worth of shares, using the proceeds to acquire the latest batch of Bitcoin. This follows an earlier sale of over 3.7 million MicroStrategy shares.

The company plans to continue its stock sale strategy. As of December 1, MicroStrategy had around $11.3 billion in shares still available for sale. Over the next three years, the firm aims to raise a total of $42 billion through the sale of both stocks and fixed-income securities. A significant portion of this capital will be allocated to further Bitcoin acquisitions.

A Continued Commitment to Bitcoin

This purchase marks MicroStrategy’s fourth consecutive week of Bitcoin acquisitions. In the previous week, the company bought 55,500 BTC for about $5.4 billion, at an average price of $97,862 per coin.

MicroStrategy’s cumulative Bitcoin purchases now exceed $23.4 billion, with an average price of $58,263 per BTC. Notably, this ongoing Bitcoin accumulation is part of the company's long-term strategy, as they aim to increase their Bitcoin holdings through substantial investments over the next few years.

MicroStrategy’s large-scale Bitcoin accumulation leaves competitors, such as Marathon Digital, in the dust. Marathon, the second-largest corporate holder of Bitcoin, holds around 33,875 BTC. While Marathon has also announced plans to raise $700 million, part of which will go toward Bitcoin purchases, the company is still far behind MicroStrategy in terms of holdings.

MicroStrategy’s total Bitcoin holdings of 402,100 BTC make it the largest corporate Bitcoin holder by a significant margin. However, following the news, shares of MicroStrategy (MSTR) fell 1.85% on Monday and currently priced at $380.30.

The latest acquisitions by MicroStrategy come at a time when Bitcoin is experiencing price consolidation. Bitcoin briefly approached the $100,000 mark earlier in the year but has since pulled back.