MicroStrategy Buys $615M Worth Additional BTC, Pushing Holdings to $5.9B

MicroStrategy (MSTR), the largest corporate holder of bitcoin (BTC), added more to its holdings on Wednesday, buying 14,620 BTC for around $615.7 million.

The company's Executive Chairman, Michael Saylor, tweeted that MicroStrategy bought the bitcoin at an average price of $42,110 per bitcoin.

The recent purchase pushes the company's holdings to 189,150 BTC worth around $5.9 billion, which was bought at an average price of $31,168 per BTC.

MicroStrategy began purchasing bitcoin in August 2020. The company's most recent purchasebefore Wednesday's took place last month, where it purchased 16,130 BTC, worth around $608 million at the time.

In a separate filing, the company said it had raised $610.1 million from its previously announced at-the-market (ATM) shares offering of $750 million.

The company was sitting on around $2 billion in profit from its bitcoin holdings as of early December.

This comes as bitcoin price has been climbing over the past few months amid optimism that U.S. regulators could potentially approve exchange-traded funds (ETFs) that hold BTC, a move some experts believe will prompt a flood of investment into the cryptocurrency. Year-to-date, the shares of MicroStrategy is up nearly 315%, while bitcoin rose 200%.