cryptojournalist
MicroStrategy is doubling down on Bitcoin, buying 51,780 BTC for $4.6 billion at an average of $88,627 per coin. Now, they own a whopping 331,200 BTC, spending an average of $49,874 per Bitcoin.
How They Paid for It
They funded this big buy through stock sales, raising $4.6 billion by selling 13.6 million shares in mid-November. Big-name firms like TD Securities and Barclays handled the deal.
Bitcoin’s Record-Breaking Week
This purchase came as Bitcoin hit $90,000 for the first time and kept climbing to $92,400. The new batch of Bitcoin makes up 16% of MicroStrategy’s total holdings.
Still the Biggest Bitcoin Believer
As the top institutional Bitcoin holder, MicroStrategy started this journey in 2020 and hasn’t looked back. Founder Michael Saylor remains confident, saying Bitcoin won’t drop below $60,000 and is only heading higher.
