15,400 BTC Added This Monday
As November ends and December begins, business intelligence company MicroStrategy significantly accelerates Bitcoin (BTC) growth acquisitionslightly surpassing the 400,000 BTC milestone in its portfolio.
This buying surge comes just over a month after the company announced ambitious plans to raise $21 billion through stock sales to fund more Bitcoin acquisitions.
$1.5 billion moved from stock sales to Bitcoin
In the past week alone, MicroStrategy sold 3.7 million copies MSTR Stockgenerating approximately $1.5 billion in proceeds that were immediately reinvested in Bitcoin. This marks the fourth consecutive week that the company has purchased Bitcoin.
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According to Bloomberg dataMicroStrategy has about $11.3 billion in equity offerings remaining under its market share plan. The move is part of a broader goal to reach $21 billion in financing through fixed income securities by 2027.
latest Archive Data with the U.S. Securities and Exchange Commission (SEC) shows that the company acquired 15,400 Bitcoins from November 25 to December 1, at an average price of approximately $95,976 per token.
The company has invested more than $13.5 billion in BTC in three tranches since November 11, bringing its total holdings to about $38 billion, or 402,100 BTC, to date. average purchase price Each coin is worth $56,658.
Cryptocurrency mining companies change strategy
MicroStrategy’s aggressive sourcing strategy has attracted the attention of other companies looking to replicate its success. For example, Mara Holdingsa cryptocurrency mining company, Announce On Monday, the company acquired $618 million worth of Bitcoin in the past two months.
The company is also seeking to issue $700 million in convertible senior notes and plans to use a portion of the net proceeds for further purchases of Bitcoin. This trend is noteworthy, especially as cryptocurrency mining stocks have underperformed this year, especially after the Bitcoin reward halving in April.
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The incident prompted miners such as MARA to adopt financial strategies focused on accumulating Bitcoin rather than selling it. Despite falling 44% earlier this year, MARA shares have rebounded and are up 8% year to date.
Likewise, Riot Platforms is another mining companyShares are down 20% this year following a massive 59% drop in September, as the company announced plans to temporarily stop selling mined BTC in order to increase its holdings.
As of writing, the market-leading cryptocurrency is trading at $95,180, down 1.6% in 24 hours. This has persisted over the past 10 days, with Bitcoin price consolidating between $91,000 and $98,000, failing to retest the all-time high of $99,540 and the elusive $100,000 milestone.
Featured images from DALL-E, charts from TradingView.com
