MicroStrategy Boosts Bitcoin Holdings with $2.1 Billion Purchase as BTC Hits $100K
MicroStrategy, a pioneer in Bitcoin (BTC) adoption, has made waves once again with a massive investment in the cryptocurrency. Over the week ending December 8, the company acquired an additional 21,550 BTC, spending approximately $2.1 billion at an average price of $98,783 per token, as revealed in a recent regulatory filing. This acquisition pushes MicroStrategy’s total Bitcoin holdings to a staggering 423,650 BTC, valued at around $42 billion based on current market prices.
How MicroStrategy Financed Its Latest Bitcoin Purchase
The purchase was financed through the sale of $2.13 billion in shares, leaving the company with $9.19 billion remaining from its $21 billion at-the-market (ATM) share issuance facility. Under the leadership of Executive Chairman Michael Saylor, MicroStrategy now controls over 2% of Bitcoin’s finite 21 million supply, reinforcing its steadfast belief in Bitcoin as a long-term strategic asset.
Bitcoin Surges to $100K for the First Time
MicroStrategy’s bold investment comes amid a historic moment for Bitcoin. For the first time ever, BTC prices surpassed the $100,000 mark, driven by robust U.S. investor interest and significant inflows into Bitcoin spot ETFs. According to data from Farside Investors, spot ETFs saw inflows totaling $2.73 billion last week, providing significant momentum for Bitcoin’s price surge.
However, following the price peak, Bitcoin slightly retreated to $99,000, and MicroStrategy’s stock (MSTR) reflected this, dipping 1% in premarket trading to $395.
Institutional Adoption: Riot Platforms Joins the Bitcoin Movement
In related news, Riot Platforms (RIOT), a leading Bitcoin mining firm, announced plans to raise $500 million through a convertible note offering. The funds will primarily be used for Bitcoin acquisitions, further showcasing the growing institutional adoption of BTC as a critical strategic asset.
This move highlights a broader trend of institutional players deepening their commitment to Bitcoin as its role in global finance continues to expand.
Conclusion
MicroStrategy’s latest Bitcoin purchase of 21,550 BTC underscores its position as a leader in institutional Bitcoin adoption. With BTC hitting a historic $100,000 milestone, the company’s bold strategy signals confidence in Bitcoin’s long-term value. As more institutions like Riot Platforms follow suit, the narrative of Bitcoin as a mainstream financial asset grows stronger.