MicroStrategy Continues Bitcoin Accumulation for 9th Straight Week, Announces $2B Preferred Stock Offering
MicroStrategy (MSTR) has extended its streak of bitcoin purchases for the ninth consecutive week, strengthening its position as the largest corporate holder of the digital asset.
In the week ending January 5, MicroStrategy added 1,020 BTC to its holdings, spending $101 million to bring its total bitcoin reserve to 447,470 BTC.
As usual, Executive Chairman Michael Saylor shared the news on X, revealing that the latest bitcoin purchases were made at an average price of $94,004, raising the overall average price of their holdings to $62,503 per BTC.
Following a sharp decline of nearly 50% from a high of $543 in November, MicroStrategy’s stock rebounded by 13% on Friday, with pre-market trading showing a modest 2% rise, putting the stock around $353.
In addition to expanding its bitcoin portfolio, MicroStrategy announced plans to raise up to $2 billion through a preferred stock offering. This new offering is separate from the company’s “21/21 Plan,” which aims to raise $21 billion in equity and $21 billion in fixed-income instruments over the next three years.
The preferred stock offering will have priority over MicroStrategy’s Class A common stock and may include features such as the option to convert to common stock, dividend payments, and the ability to redeem shares. The specific terms and pricing of the offering are yet to be finalized, but it is expected to take place in Q1 2025. The proceeds from the offering will be used to acquire additional bitcoin.
