MicroStrategy Bought More Than $94M Worth of Bitcoin in December; Michael Saylor Quoted

MicroStrategy (Nasdaq: MSTR) paid $94.2 million in cash to buy another 1,914 Bitcoins between Dec. 9 and Dec. 29, bringing the Tysons, Virginia-based software company’s total Bitcoins to up to 124,391 units valued at approximately $3.75 billion, the Washington Business Journal reported Thursday.

MicroStrategy’s final 2021 purchase represented $49,229 per Bitcoin, including expenses and fees, according to a filing with the Securities and Exchange Commission.

The company said in its third-quarter earnings report that it bought 43,573 units of Bitcoin for $2.035 billion during the first nine months of calendar year 2021.

MicroStrategy has funded its digital currency purchases since June through stock sales worth $1 billion based on an open market sale agreement it signed with Jefferies. To fund its latest Bitcoin buy, the company sold 167,759 shares at $565.78 apiece during the final weeks of the year, enabling it to raise $94.2 million.

MicroStrategy CEO Michael Saylor said the company has no plans of selling the Bitcoins it has purchased.

“We believe that Bitcoin represents a great long-term investment for the shareholders,” he added.

POC - Digital Currency and National Security Forum

The Potomac Officers Club’s Digital Currency and National Security on Jan. 27 will feature Saylor as one of the speakers during a fireside chat session to share his insights on the trends shaping the future of cryptocurrency.

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