MicroStrategy Halts 12-Week Bitcoin Buying Spree, Still Holds 471,107 BTC
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MicroStrategy has paused its Bitcoin purchases after acquiring around $20 billion worth of the cryptocurrency over the past few months. The business intelligence firm, led by Michael Saylor, did not sell any shares of its class A common stock last week, nor did it acquire more Bitcoin, according to an 8-K filing with the U.S. Securities and Exchange Commission (SEC) on Monday. MicroStrategy’s Bitcoin Holdings Remain at 471,107 BTC Currently, in a recent filing MicroStrategy has revealed it still possesses 471,107 BTC which it had purchased at an average price of $7,314 thus cost-basing the assets at a value of over $44 billion at current Bitcoin prices. The company had bought all of its holdings for about $30.4 billion and has an average cost of $64,511 per Bitcoin. Bitcoin has a total supply of 21 million coins with this ownership quantity equaling more than 2.2% of the available allocation. This position was also echoed by the company’s co-founder and the executive chairman, Michael Saylor, through X. “Last week, MicroStrategy did not sell any of its class A common stock under the at-the-market equity offering program and did not buy any Bitcoin,” Saylor wrote on X. Although MicroStrategy has temporarily ceased more acquisitions, it remains committed to its vision for Bitcoin adoption. The firm has raised capital through equity offerings and debt issuances to fund acquisitions, with approximately $4.35 billion in shares still available for future sales under its “21/21 plan.” Strong Demand for MicroStrategy’s Preferred Stock Furthermore, on Friday, MicroStrategy conducted an offering of preferred stock to raise $563.4 million. The capital raised was aimed at providing more capital for subsequent Bitcoin purchases. Micromax’s shares, trading under the symbol MSTR, ended at $334.79 on Friday, down 1.6%, but it has risen more than 567% in the last one year. MicroStrategy…
Filed under: News - @ February 3, 2025 10:22 pm