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Top News By Agency By Country By Publication Time The Most Read Stories Most Viewed Agencies All News MicroStrategy Purchases Another $1.1 Billion In Bitcoin Amid Market Sell-Off © Copyright Image: ZyCrypto
Software company MicroStrategy has today expanded its Bitcoin (BTC) reserves by acquiring an additional 10,107 BTC ahead of its Monday decline. MicroStrategys latest purchase marks the firms 12th consecutive week of BTC buys.
MicroStrategy Bitcoin Cache Grows By 10.1K
MicroStrategys Executive Chairman Michael Saylor announced that the company had spent roughly $1.1 billion to acquire the 10,107 BTC at an average price of $105,596 per BTC between Jan. 21 and Jan. 26.
The Tysons, Virginia-based firm now holds a whopping 471,107 BTC currently valued at around $47 billion. The company has spent a total of $30.4 billion on the alpha crypto, with its overall average price at $64,511 per Bitcoin.
MicroStrategy has acquired 10,107 BTC for ~$1.1 billion at ~$105,596 per bitcoin and has achieved BTC Yield of 2.90% YTD 2025. As of 1/26/2025, we hodl 471,107 $BTC acquired for ~$30.4 billion at ~$64,511 per bitcoin. $MSTR https://t.co/UM5dGUS9Ma
Michael Saylor (@saylor) January 27, 2025
Bitcoin is now trading for about $99,808 after dropping as low as $97,791 on Monday morning amid a crypto-wide market bloodbath, according to CoinGecko data.
MicroStrategys Saylor kicked off the companys Bitcoin buying master plan in 2020 and hasnt stopped since though over the past 12 weeks, it has accelerated its accumulation, announcing a new BTC buy every week during that period. The company has since turned to debt issuance like convertible notes and senior secured notes to finance its aggressive BTC buying spree.
Saylor believes Bitcoin is the best inflation hedge and a way to get better returns for shareholders over the long term and advises other companies to do the same.
MicroStrategys Bitcoin Buying Inspire Global Corporate Adoption
Last October, MicroStrategy entered a sales agreement known as the 21/21 Plan that allows the company to raise as much as $42 billion via equity and fixed-income securities offerings for Bitcoin acquisitions.
On Jan. 21, MicroStrategy shareholders expanded that plan by voting in favor of a 30x increase to the number of authorized Class A common shares to help make further Bitcoin purchases.
MicroStrategys latest purchase was funded through stock sales, as was the case in previous weeks. As per a Jan. 27 SEC filing, the company sold 2.76 million shares over the past week, generating $1.1 billion in net proceeds. The company still has $4.35 billion worth of shares available for sale under their sales agreement as of January 26.
Years after MicroStrategy pioneered large-scale corporate Bitcoin adoption, the strategy began picking up steam among other publicly listed companies. Other notable BTC holders include Elon Musks Tesla & SpaceX, medical technology firm Semler Scientific, and Japans Metaplanet.
Read more: https://zycrypto.com/microstrategy-purchases-another-1-1-billion-in-bitcoin-amid-market-sell-off/
Text source: ZyCrypto
Bitcoin News Bitcoin News MicroStrategy Written by Brenda Ngari On Tue, 28 Jan 2025 Disclaimer: Financial information and news are not financial advice, read the disclaimer. Buy & sell Crypto in minutesJoin BINANCE!
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