MicroStrategy buys $593.3 million in bitcoin, may raise up to $750 million in new stock sale
MicroStrategy, a software firm best known for its bitcoin holdings, has purchased more of the digital asset and may raise additional funds through the sale of new shares.
Between Nov. 1 and Nov. 29, it purchased an additional 16,130 bitcoin for $593.3 million, with an average price of $36,785 per token, the company said in a filing. The company now "hodls" 174,540 bitcoin that was acquired at an average price of $30,252 each.
The company said it may raise up to $750 million through the sale of new Class A common stock shares.
Bitcoin was mostly flat on Thursday, trading at $37,652 at 11:35 a.m. ET, according to The Block data. The world's largest digital asset by market capitalization is up 10% over the past month and 122.8% over the past year.
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