MicroStrategy buys 5,262 more bitcoins with share sale proceeds

Investing.comDec 24, 2024 12:06 AM

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Investing.com -- MicroStrategy Incorporated (NASDAQ:MSTR) said on Monday it acquired 5,262 bitcoins at an average price of $106,662 each, using proceeds from the sale of 1.32 million shares, which raised $561 million.

By leveraging both equity and convertible debt while capitalizing on its equity premium, the company has managed to grow its bitcoin holdings at a faster pace than its share dilution.

MicroStrategy said, as of Dec. 22 about $7.08 billion worth of shares remained available for issuance under its agreement.

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