MicroStrategy Expands Bitcoin Holdings with 1,070 BTC Purchase and $2 Billion Stock Offering
Crypto/Finance

MicroStrategy Expands Bitcoin Holdings with 1,070 BTC Purchase and $2 Billion Stock Offering

MicroStrategy continues to build its Bitcoin assets for the ninth week in a row, looking to raise significant capital through a new stock offering.

MicroStrategy Expands Bitcoin Holdings

MicroStrategy (MSTR) has marked its ninth consecutive week of Bitcoin (BTC) accumulation. In the week ending January 5, the company acquired an additional 1,020 BTC for $101 million, boosting its total Bitcoin reserves to 447,470 BTC.

MicroStrategy MicroStrategy Executive Chairman Michael Saylor (Danny Nelson/CoinDesk)

Saylor teased the announcement in a post on X. The latest Bitcoin purchases were made at an average cost of $94,004, raising the average per Bitcoin held to $62,503.

The company's stock saw a 13% increase in price following a significant recovery after nearly a 50% drop from its November high.

In addition, MicroStrategy has announced plans to raise up to $2 billion through a preferred stock offering for further Bitcoin purchases. This offering is proposed to happen in Q1 2025. Features of the offering include share convertibility to Class A common stock and cash dividend payments. The specific terms of the stock offering remain unclarified.

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