MicroStrategy Purchases Additional 52,000 Bitcoins

Purchased a total of 25,700 items in two rounds last September

MicroStrategy, a US enterprise software company accumulating Bitcoin as a hedge against inflation, has purchased an additional approximately 52,000 Bitcoins.

According to a report submitted by MicroStrategy to the US Securities and Exchange Commission (SEC) on the 18th (local time), the company bought 51,780 Bitcoins between the 11th and 17th. The total purchase amount was $4.6 billion (about 6.4 trillion KRW), with an average price of $88,837 per Bitcoin.

MicroStrategy had previously purchased more than 27,000 Bitcoins from the 31st of last month to the 10th of this month. In September, the company also bought a total of 25,700 Bitcoins in two separate transactions.

Including the new purchases, MicroStrategy's total Bitcoin holdings have increased to 331,200. The total purchase price is approximately $16.5 billion, and the value of the Bitcoins held is about $30 billion.

As of 6 PM Eastern Time on the same day, Bitcoin was priced at $90,700 per coin, and MicroStrategy expressed its intention to continue purchasing more Bitcoins. The company announced that it plans to issue an additional $1.75 billion worth of convertible bonds maturing in 2029, and the funds will be used for further Bitcoin acquisitions.

MicroStrategy has actively purchased Bitcoin since 2020 as an inflation hedge. Initially, it bought Bitcoin using company operating funds, and later through funds raised by issuing stocks and convertible bonds. For this recent Bitcoin purchase, MicroStrategy sold 13.6 million shares for $4.6 billion.

The value of MicroStrategy soared along with the surge in Bitcoin prices. The company's stock price was only in the $12 range when it first bought Bitcoin in August 2020, but it skyrocketed to $384.79 on this day, an increase of 3,100% during this period. Thanks to the effect of 'pro-cryptocurrency' Donald Trump’s election as US President, the stock price has risen about 70% from the election until this day.