MicroStrategy acquires 51,780 BTC for $4.6 billion

Business intelligence firm MicroStrategy announced on Monday that it has purchased an additional 51,780 Bitcoin worth $4.6 billion, at an average price of $88,627 per BTC. The purchase brings the company's entire Bitcoin holdings to 331,200 BTC.

MicroStrategy increases Bitcoin holdings with $4.6 billion BTC purchase

MicroStrategy has made back-to-back Bitcoin purchases since the aftermath of the US presidential election and crypto market rally. 

In a report to the Securities and Exchange Commission (SEC), the company announced that it bought 51,780 more Bitcoin for $4.6 billion last week. Each Bitcoin was acquired at an average price of $88,627, bringing the firm's total digital asset holdings to 331,200 BTC. Since it began its buying spree, MicroStrategy has spent $16.5 billion to buy Bitcoin at an average price of $49,874 per BTC. 

MicroStrategy stated that the purchase was made using proceeds from the sale of its shares between November 11 and 17, which raised $4.6 billion. The proceeds were then used to acquire additional Bitcoin. 

The firm had earlier announced its intention to generate $42 billion over the next three years as part of its 21/21 strategy. This capital, comprising $21 billion in equity and $21 billion in debt offerings, is earmarked for acquiring additional Bitcoin.

With its purchase last week, MicroStrategy has cemented its place as the largest corporate holder of Bitcoin and its recent accumulation could inspire retail investors to follow suit.

Additionally, the company's BTC yield year-to-date and since October 1 is at 41.8% and 20.4%, respectively.

In other news, Japanese investment firm Metaplanet Inc. announced the issuance of 1.75 billion Yen — equivalent to $11.3 million — in bonds. The company stated that it would use the proceeds from the sales to acquire Bitcoin.