MicroStrategy Buys Another $101 Million of Bitcoin — WSJ

By Vicky Ge HuangMicroStrategy, the software-intelligence company turned bitcoin-holding entity, said Monday it bought $101 million of bitcoin during the last two trading days of 2024.The company said it bought 1,070 bitcoins.It paid an average of $94,004 per coin in cash, including fees and expenses.It now holds about 447,470 bitcoins worth about $44 billion.The Tysons Corner, Va.-based company said late Friday it plans to raise up to $2 billion by selling perpetual preferred stock in the first quarter of 2025 to fund more bitcoin purchases.MicroStrategy unveiled an audacious plan last year to raise $42 billion in capital over three years through stock and bond offerings to buy bitcoin.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).