MicroStrategy acquired 55,000 Bitcoin for $5.4 billion, boosting its holdings to 386,700 BTC amid bullish institutional sentiment.
MicroStrategy, a publicly traded business intelligence and software firm, reported a substantial expansion of its Bitcoin holdings in a filing on Nov. 25.
The company acquired about 55,000 Bitcoin (BTC) for $5.4 billion between Nov. 18 and 24 at an average price of $97,862 per coin. The purchase was funded through proceeds from recent equity and debt offerings, the filing said.
The acquisition of this latest BTC investment has pumped MicroStrategy’s total BTC holdings to a massive 386,700 BTC, acquired at a cumulative cost of $21.9 billion — or an average price of $56,761 per token.
