Business intelligence firm and corporate bitcoin holder MicroStrategy has ended its latest bitcoin buying streak after twelve consecutive weeks of acquisitions.
The firm did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin between Jan. 27 and Feb. 2, according to an 8-K filing with the Securities and Exchange Commission on Monday.
The company's total bitcoin holdings stand at 471,107 BTC, worth over $44 billion. MicroStrategy’s total holdings were bought at an average price of $64,511 per bitcoin, a total cost of around $30.4 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. To put that in perspective, MicroStrategy holds more than 2.2% of bitcoin’s total 21 million supply.
As of Jan. 26, the company said it had approximately $4.35 billion billion worth of shares that remained available for sale as part of its “21/21 plan” targeting a total capital raise of $42 billion in equity offerings and fixed-income securities for bitcoin acquisitions.
On Friday, MicroStrategy also saw strong demand for its additional preferred stock plan, raising $563.4 million to fuel more bitcoin purchases. Despite the recent Trump tariff-fueled sell off, Mizuho Securities believes the price of bitcoin has room to run another 30% in the next three years, rating MicroStrategy as outperform with a price target of $511 as it is on an “accelerated track” to exceed its capital raise targets.
MicroStrategy's latest announcement ends a 12-week streak of acquisitions following news last Monday that it had purchased another 10,107 BTC for roughly $1.1 billion in cash at an average estimated price of $105,596 per coin and $1.1 billion worth of bitcoin the week before.
MicroStrategy has acquired around $20 billion worth of bitcoin over the past few months alone, and its $84.1 billion market cap trades at a significant premium to its bitcoin net asset value, with some investors airing reservations about the firm's premium to NAV valuation and its equity and debt-funded bitcoin acquisition program in general.
MicroStrategy shares closed down 1.6% at $334.79 on Friday, having gained more than 567% over the past year, according to TradingView. MSTR is currently trading down 7.3% in pre-market trading on Monday.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
