MicroStrategy buys another $1.1b Bitcoin

MicroStrategy announced a Bitcoin purchase for the twelfth consecutive week, while also unveiling a new stock offering to finance additional crypto acquisitions.

MicroStrategy, the world’s largest corporate Bitcoin ($BTC) holder, increased its holdings to a staggering 471,101 tokens after completing its second purchase during President Donald Trump’s administration.

The company invested another $1.1 billion in $BTC, acquiring 10,101 $BTC at an average price of $105,596, according to a disclosure filing shared by MicroStrategy executive chairman Michael Saylor.

Saylor’s firm, which began purchasing $BTC in 2020, has spent $30.4 billion accumulating its massive Bitcoin treasury. The stockpile was valued at nearly $50 billion at press time, with $BTC trading around $100,000 following a 4% price drop on Jan. 27 due to a stock market correction.

24-hour $BTC price chart – Jan. 27 | Source: crypto.news

MicroStrategy’s new $STRK

Increasing its Bitcoin holdings was not the only announcement from MicroStrategy this week. Saylor also revealed the launch of $STRK, a mixed securities offering available to institutional investors and select retail buyers.

The mixed securities offering is a flexible financial vehicle that allows companies to offer multiple investment contract options under a single filing. Through $STRK, MicroStrategy can present investors with securities such as preferred stock or common stock to raise capital.

According to Saylor, the proceeds from $STRK will be used to purchase additional Bitcoin and for general corporate purposes. The initiative is likely part of Saylor’s “21/21” plan, which expects to invest $42 billion into Bitcoin by 2028 and further cement the company’s position as the largest $BTC holder.

So far, shareholders appear supportive of Saylor’s vision. Last week, shareholders voted to increase the number of authorized Class A common shares by 30 times to enable capital raising.