MicroStrategy Buys $2.03 Billion of Bitcoin in Latest Purchase

11/11/2024 21:03
MicroStrategy Buys $2.03 Billion of Bitcoin in Latest Purchase

(Bloomberg) -- MicroStrategy Inc. purchased about 27,200 Bitcoin for around $2.03 billion, in one of the largest acquisitions of the digital asset by the crypto hedge-fund proxy.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationThe enterprise software maker, whose corporate strate

(Bloomberg) -- MicroStrategy Inc. purchased about 27,200 Bitcoin for around $2.03 billion, in one of the largest acquisitions of the digital asset by the crypto hedge-fund proxy.

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The enterprise software maker, whose corporate strategy includes buying the cryptocurrency, bought the tokens between Oct. 31 and Nov. 10, according to a statement on Monday. The purchases were made using proceeds from the issuance and sale of stock.

That raised MicroStrategy’s Bitcoin holdings to almost $23 billion, based on Monday’s record price of more than $82,000 for the digital currency.

As of Nov. 10, the Tysons Corner, Virginia-based company, together with its subsidiaries, held about 279,420 Bitcoin, valued at an aggregate purchase price of approximately $11.9 billion and an average purchase price of around $42,692 per Bitcoin, inclusive of fees and expenses.

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