Catenaa, Tuesday, November 19, 2024- MicroStrategy has acquired $4.6 billion worth of Bitcoins in a record-breaking purchase, according to an SEC filing on Monday, November 18.
The BTC is hovering just above $90,000 after Trump winning the November 4 Presidential Election.
The Virginia-based software firm now holds 331,200 Bitcoins, valued at $30 billion, according to the SEC filing.
Between November 11 and 17, MicroStrategy purchased 51,780 Bitcoins, adding to prior acquisitions of over 27,000 tokens earlier in November, records show.
The firm, which initially used cash for its Bitcoin strategy, has increasingly relied on stock and convertible debt sales to fund purchases.
The company also said it plans to raise an additional $1.75 billion through convertible senior notes maturing in 2029, further bolstering its Bitcoin buying power.
This follows an earlier announcement to raise $42 billion through new share and fixed-income sales, dubbed 21/21 Plan.
MicroStrategy’s Bitcoin-focused approach has made driving its stock up over 400% this year, making it the second-best-performing stock tracked by Bloomberg.
