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MicroStrategy Buys 1,070 Bitcoin for $101M, Targets $2B Capital Raise Under Saylor's Leadership

Jan 6, 2025, 01:19 PM

MicroStrategy Inc. has purchased an additional 1,070 Bitcoin for approximately $101 million, at an average price of $94,004 per Bitcoin. This acquisition brings the company's total Bitcoin holdings to 447,470, acquired for about $27.97 billion at an average price of $62,503 per Bitcoin. The latest purchase marks the ninth consecutive week of Bitcoin acquisitions by MicroStrategy, following a strategy led by its chairman, Michael Saylor. The company also reported a Bitcoin yield of 48.0% in the fourth quarter of 2024 and 74.3% for the full year 2024. MicroStrategy is targeting a $2 billion capital raise this quarter as part of its ambitious '21/21' plan to raise $42 billion over the next three years through the sale of corporate stock and bonds.