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MicroStrategy Bought $600M of BTC in November, Increased Holdings by 10%

MicroStrategy is also looking to raise up to $750 million in a sale of class A common stock.

By Jamie Crawley
AccessTimeIconNov 30, 2023 at 2:41 p.m. UTC
Updated Mar 8, 2024 at 5:51 p.m. UTC
Michael Saylor (Anna Baydakova/CoinDesk)
Michael Saylor (Anna Baydakova/CoinDesk)
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Microstrategy (MSTR), the largest corporate holder of bitcoin (BTC), boosted its holdings in November, buying some 16,130 BTC, worth around $608 million at current prices.

The Michael Saylor-founded software developer bought the bitcoin for around $593.3 million in cash at an average price of about $36,785 apiece, according to a regulatory filing on Thursday. It now holds 174,530 BTC bought at an average of about $30,252 per coin.

The November purchase marks an acceleration in the firm's bitcoin buying activities. As of end-October MicroStrategy held 158,400 BTC, having acquired 6,607 BTC since the beginning of the third quarter. It's now increased its holdings by over 10% in a month.

MicroStrategy also entered into an agreement with Cowen and Company, Canaccord Genuity and BTIG to offer up to $750 million worth of class A common stock.

MSTR shares fell 0.82% to $502.96 in early trading on Nasdaq.

Read More: Here's Why Bitcoin Will 10X From Here: Michael Saylor

Edited by Sheldon Reback.


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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

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