MicroStrategy, led by Michael Saylor, recently made a massive purchase of Bitcoin, acquiring 55,500 tokens for $5.4 billion. This significant acquisition brings their total Bitcoin holdings to 386,700, which are now valued at nearly $38 billion. The average price paid per Bitcoin in this latest purchase was $97,862, and the buying took place over six days.
MicroStrategy has been in the spotlight for its consistent large Bitcoin acquisitions since adopting a Bitcoin-purchase strategy in 2020. This year alone, the company saw a 515% increase in its share price, briefly landing it in the top 100 largest U.S. publicly traded companies by market cap.
In addition to their Bitcoin purchase, MicroStrategy recently completed a sale of convertible debt, raising $3 billion. The company issued notes due in 2029 with a 0% coupon and a 55% conversion premium, equivalent to a share price of about $672.40. The news of these financial moves has caused MicroStrategy’s shares to rise by 3.3% premarket to $436.
As the Nasdaq 100 approaches its annual reranking, with the announcement set for December 13th, MicroStrategy is eagerly waiting to find out if it will be included in the index. The rebalancing is scheduled to take place after market close on December 20th.
In a related development, Semler Scientific has also increased its Bitcoin holdings by acquiring an additional 297 BTC, bringing its total to 1,570 BTC. The company has also expanded its at-the-market (ATM) offering by adding $50 million in shares to its existing program, totaling the ATM offering to $100 million.
James Van Straten, a senior analyst at CoinDesk specializing in Bitcoin and the macro environment, shared insights into the recent developments. Previously working as a research analyst at Saidler & Co., a Swiss hedge fund, James is well-versed in on-chain analytics and closely monitors ETFs, spot and futures volumes, and flows to understand Bitcoin’s interaction within the financial system. James holds investments in various companies, including MicroStrategy, Semler Scientific, IREN, MARA Holdings, Cipher Mining, Bitfarms, Riot Platforms, and CleanSpark.
