MicroStrategy, a leading business intelligence firm and the largest corporate holder of Bitcoin, announced the acquisition of 55,000 BTC between Nov. 18 and 24, further cementing its position as a major player in the cryptocurrency market.
The company spent $5.4 billion on Bitcoin at an average price of $97,862 per coin. With this latest purchase, MicroStrategy’s total Bitcoin holdings have reached 386,700 BTC, acquired at a cumulative cost of $21.9 billion and an average price of $56,761 per coin. The acquisition was funded through proceeds from a $2.97 billion private offering of 0% convertible senior notes due 2029 and $2.46 billion raised via its at-the-market (ATM) equity program. The company reported having $12.8 billion in remaining capacity under the ATM program.
The acquisition was made during the week of Nov. 18-24, 2024, as Bitcoin neared its all-time high of $100,000. This comes amid growing optimism about institutional adoption and potential pro-crypto policies under President-elect Donald Trump’s administration.
MicroStrategy’s aggressive Bitcoin strategy impacts both the U.S. markets and the global cryptocurrency landscape, positioning the firm as a significant institutional participant in Bitcoin’s adoption.
MicroStrategy’s continued investment in Bitcoin reflects its long-term confidence in the cryptocurrency’s potential as a store of value. The company’s proprietary metric, “Bitcoin Yield,” rose to 59.3% as of Nov. 24, up from 35.2% in Q3, emphasizing its focus on maximizing shareholder value through Bitcoin. The firm sees Bitcoin as a key driver of its financial strategy and a hedge against traditional economic uncertainties.
The company funded its purchases through a combination of convertible notes and equity sales. The private notes offering closed on Nov. 21, while the ATM equity program remains an ongoing funding source. These mechanisms enable MicroStrategy to execute its Bitcoin acquisition strategy effectively.
Separately, U.S.-based Semler Scientific also expanded its Bitcoin holdings, purchasing 297 BTC for $29.1 million during the same period. Semler, which now holds 1,570 BTC, reported a year-to-date Bitcoin Yield of 58.4%, highlighting the growing trend of corporations integrating Bitcoin into their treasury strategies to enhance long-term financial stability and growth.
