MicroStrategy Spends $94.2 Million Buying Further Bitcoin, Concludes Open Market Sale Agreement

If one positive thing can be said about MicroStrategy Inc (NASDAQ: MSTR), it’s that they stick to their convictions. The firm this morning filed a Form 8-K with SEC, indicating that throughout the month of December they were again on the bid on the crypto markets, buying up more bitcoin.

The form in the filing this morning indicated it has acquired an additional 1,914 bitcoin, bringing the firms total holdings to 124,391. The latest tranche was acquired between December 9 and December 29, with the bitcoin being purchased at an average price of $49,229 at a total cost of $94.2 million.

The latest tranche follows the firm acquiring 1,434 bitcoin for $82.4 million between November 28 and December 8, 2021.

This latest purchase brings the firms total holdings of the crypto to 124,391, with the bitcoin having an average cost of $30,159, the first time the firm has broken the $30,000 mark. The firms total holdings at current market prices of $47,470 equiate to roughly $5.9 billion.

To acquire the bitcoin, the company also indicated it sold a total of 167,759 class A common shares on the open markets, at an average price of $565.78 per share. The sale brought in gross process of $94.2 million for the company, while bringing the cumulative offering to $1.0 billion, and thus concluding the open market sale agreement.

MicroStrategy last traded at $556.09 on the Nasdaq.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply