MicroStrategy Surges Bitcoin Holdings to $42 Billion Amid Historic Market Rally

MicroStrategy, a leader in Bitcoin (BTC) adoption, made headlines with another substantial investment in the cryptocurrency. Over the week ending December 8, the company acquired an additional 21,550 BTC, spending a staggering $2.1 billion at an average price of $98,783 per token, according to a regulatory filing released Monday. This purchase brings MicroStrategy’s total Bitcoin holdings to an impressive 423,650 BTC, valued at approximately $42 billion at current market prices.

The acquisition was financed by selling $2.13 billion in shares, leaving $9.19 billion remaining from the company's $21 billion at-the-market (ATM) share issuance facility. Under the leadership of Executive Chairman Michael Saylor, the company now controls more than 2% of Bitcoin's capped 21 million supply, reaffirming its commitment to the digital asset.

This aggressive buying spree coincided with a historic moment for Bitcoin as the cryptocurrency surged past the $100,000 mark for the first time. A wave of U.S. investor interest and significant inflows into Bitcoin spot ETFs, totaling $2.73 billion last week, helped propel prices to new heights, according to Farside Investors.

Meanwhile, MicroStrategy’s stock dipped slightly, down 1% in premarket trading at $395, mirroring Bitcoin’s slight retreat to $99,000.

In related developments, Riot Platforms (RIOT), a prominent Bitcoin mining firm, announced plans to raise $500 million through a convertible note offering, earmarked primarily for BTC purchases. This move highlights the increasing institutional embrace of Bitcoin as a strategic asset.