MicroStrategy Buys 11,000 More Bitcoin Worth $1.1B, Its 11th Week in a Row of BTC Acquisitions

Michael Saylor's software company MicroStrategy is pushing forward with its Bitcoin buying spree in January, today scooping up about $1.1 billion worth of the orange coin.

MicroStrategy is continuing its massive Bitcoin (BTC) buying spree in January, scooping up about $1.1 billion worth of the orange coin. This marks the 11th week in a row of Bitcoin acquisitions by the company.

After the latest acquisition, MicroStrategy’s Bitcoin holdings now stand at 461,000 BTC.

MicroStrategy Buys 11,000 More Bitcoin

An SEC filing and Monday announcement from MicroStrategy’s co-founder and Bitcoin bull Michael Saylor showed that MicroStrategy spent $1.1 billion buying 11,000 BTC at an average price of $101,191.

The filing also reveals that MicroStrategy currently holds approximately 461,000 BTC, acquired at an average price of $63,610 per Bitcoin, including fees and expenses. The company has spent approximately $29 billion to build its Bitcoin stack at an average price of $63,610.

The MicroStrategy’s Bitcoin buy follows the sale of a further 3,012,072 of its company shares during the same period for the same amount. As of Jan. 20, the firm said roughly $5.42 billion worth of shares remained available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities capital raise, targeting a total of $42 billion for BTC acquisitions.

On Jan. 6, MicroStrategy acquired another $101 million worth of Bitcoin, equivalent to 1,070 BTC at an average price of $94,004.

Founded in 1989, MicroStrategy is a publicly listed business intelligence company. In 2020, it pivoted to start purchasing as much Bitcoin as possible. The firm now owns over 2% of Bitcoin’s total 21 million supply.

Years after MicroStrategy pioneered large-scale corporate Bitcoin investment, the strategy started picking up steam among other public companies. Other holders include Elon Musk’s EV maker Tesla, healthcare technology company Semler Scientific, and Tokyo-based Metaplanet.