MicroStrategy Won’t Stop Buying Bitcoin, Adds Another $1.1 Billion Worth Of BTC

Michael Saylor’s software company MicroStrategy is pushing forward with its Bitcoin buying spree in January, today scooping up about $1.1 billion worth of the orange coin. The move marks the company’s 11th week in a row of Bitcoin acquisitions. MicroStrategy’s Bitcoin holdings now stand at 461,000 BTC following the latest acquisition. MicroStrategy Buys 11,000 More Bitcoin An SEC filing and Monday announcement from MicroStrategy’s co-founder and Bitcoin bull Michael Saylor showed that MicroStrategy spent $1.1 billion buying 11,000 BTC at an average price of $101,191. The filing also reveals that MicroStrategy currently holds approximately 461,000 BTC, acquired at an average price of $63,610 per Bitcoin, including fees and expenses. The company has spent approximately $29 billion to build its Bitcoin stack at an average price of $63,610. MicroStrategy’s Bitcoin buy follows the sale of a further 3,012,072 of its company shares during the same period for the same amount. As of Jan. 20, the firm said roughly $5.42 billion worth of shares remained available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities capital raise, targeting a total of $42 billion for BTC acquisitions. On Jan. 6, MicroStrategy acquired another $101 million worth of Bitcoin , equivalent to 1,070 BTC at an average price of $94,004. MicroStrategy is a publicly listed business intelligence company founded in 1989. In 2020, it pivoted to start purchasing as much Bitcoin as possible. The firm now owns over 2% of Bitcoin’s total 21 million supply. Years after MicroStrategy pioneered large-scale corporate Bitcoin investment, the strategy started picking up steam among other public companies. Other holders include Elon Musk’s EV maker Tesla , healthcare technology company Semler Scientific , and Tokyo-based Metaplanet .