MicroStrategy Acquires 5,262 Bitcoins

MicroStrategy Incorporated (NASDAQ:MSTR) announced on Monday that it has acquired 5,262 bitcoins at an average price of $106,662 each. The purchase was funded through the proceeds from the sale of 1.32 million shares, which generated $561 million.

By utilizing both equity and convertible debt, and taking advantage of its equity premium, the company has succeeded in increasing its bitcoin holdings more rapidly than the dilution of its shares.

As of December 22, MicroStrategy reported that approximately $7.08 billion worth of shares remains available for issuance under its current agreement.