MicroStrategy Boosts BTC Holdings by 10% with $600M Purchase in November

• MicroStrategy Increases Bitcoin Holdings
• Bitcoin Purchase Details
• Significant Increase in Bitcoin Buying
• Agreement With Financial Firms
• MSTR Shares Performance

MicroStrategy Increases Bitcoin Holdings

MicroStrategy (MSTR), recognized as the most significant corporate holder of Bitcoin$42,260 -0.64% (BTC), amplified its Bitcoin holdings in November. The company acquired approximately 16,130 BTC, which is valued at close to $608 million in current market prices.

Bitcoin Purchase Details

The software developer company, founded by Michael Saylor, purchased the Bitcoin for roughly $593.3 million in cash, at an average price of around $36,785 per Bitcoin, as revealed by a regulatory filing on Thursday. The company's total Bitcoin holdings now stand at 174,530 BTC, which were bought at an average price of nearly $30,252 per coin.

Significant Increase in Bitcoin Buying

This acquisition in November signifies a notable expansion in the company's Bitcoin buying activities. As of the end of October, MicroStrategy held 158,400 BTC, having added 6,607 BTC since the beginning of the third quarter. Now, it has augmented its holdings by over 10% within a single month.

Agreement With Financial Firms

In addition to purchasing more Bitcoin, MicroStrategy also entered into an agreement with Cowen and Company, Canaccord Genuity, and BTIG. The purpose of this agreement is to offer up to $750 million worth of class A common stock.

MSTR Shares Performance

In early Nasdaq trading, MSTR shares experienced a slight drop, falling by 0.82% to $502.96.

Edited by Jonathan Stoker