Michael Saylor’s MicroStrategy, the largest corporate holder of Bitcoin, is now the owner of nearly 2% of all Bitcoin that will ever be created after again buying the dip.
On Monday, the business intelligence firm and “Bitcoin development company” announced that it had purchased even more Bitcoin for approximately $1.5 billion.
Microstrategy Acquires Additional 15,400 BTC
According to an 8-K filing with the U.S. Securities and Exchange Commission on Monday, MicroStrategy purchased 15,400 additional Bitcoin for a total of $1.5 billion at an average price of $95,976 per Bitcoin between Nov. 25 and Dec. 1.
While that’s smaller than the company’s most recent BTC buys and a drop in the ocean compared to its overall stockpile, it does push the size of the company’s holdings to a new record peak. As of Nov. 2, MicroStrategy holds 402,100 Bitcoin, or $39 billion worth at the current price of the asset. The company’s overall average purchase price is $58,263.
The 402,100 tokens represent over 1.9% of the 21 million BTC that can ever be created, with roughly 19.7 million Bitcoin of the total 21 million supply currently circulating.
The latest acquisition follows the sale of a further 3.7 million MicroStrategy shares under the firm’s existing at-the-market program. According to the disclosure, the company still has $11.3 billion worth of shares remaining available for sale as part of its planned $21 billion equity offering and $21 billion of fixed-income securities, seeking a total of a whopping $42 billion capital raise over the next three years for further Bitcoin acquisition.
MicroStrategy’s Monday announcement marked the fourth consecutive week of major BTC purchases in a row, following Nov. 25th’s record-shattering 55,500 BTC purchase for a whopping $5.4 billion at an average price of $97,862 per coin and the previous week’s $4.6 billion BTC buy.
MicroStrategy founder and Executive Chairman Michael Saylor is one of the most vocal Bitcoin evangelists in the finance world. Not only did he pivot his firm’s focus to Bitcoin, but he also recently gave Microsoft a compelling three-minute pitch on why it should spend $100 billion a year to purchase Bitcoin.
$100K BTC Price Looming?
Commenting on MicroStrategy’s BTC announcement, CryptoQuant CEO Ki Young Ju evaluated the extent of the company’s overall Bitcoin buying spree.
“$MSTR spent $13.5B on 149,900 BTC, with holdings up $21.5B in 30 days,” Young Ju wrote in an X post.
“Bitcoin market can’t absorb tens of billions short-term without driving prices up, making returns nearly inevitable. If BTC breaks $100K, the gains could grow even more as it enters price discovery.”
BTC’s price circled $95,668 as of publication time, having gained a paltry 0.1% over the last 24 hours.