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Bitcoin Buyer Spree: MicroStrategy Acquires $4.6B In BTC, Metaplanet Issues $11.4M In Bonds To Fund Purchases

BY Benzinga | CORPORATE | 11/18/24 11:25 AM EST

MicroStrategy Inc. (MSTR) has announced the acquisition of 51,780 Bitcoin (CRYPTO: BTC) for approximately $4.6 billion, with an average price of $88,627 per coin.

What Happened: According to the company's SEC filing on Monday, this purchase occurred between Nov. 11and Nov. 17, funded through proceeds from the issuance and sale of shares under its Sales Agreement.

As of Nov. 17, MicroStrategy (MSTR) and its subsidiaries hold an aggregate of 331,200 BTC, acquired at a total purchase price of approximately $16.5 billion and an average cost of $49,874 per Bitcoin.

MicroStrategy (MSTR) views Bitcoin as a strategic reserve asset, offering exposure to digital assets as an alternative to traditional capital.

Michael Saylor has emphasized Bitcoin's ability to "fix the balance sheet" and enhance stock value, recently highlighting its potential as a trillion-dollar opportunity for shareholders.

With Bitcoin’s price surpassing $91,000, MicroStrategy (MSTR) now holds over $24 billion in Bitcoin, reporting $11.7 billion in unrealized profits, solidifying its leadership in corporate Bitcoin adoption.

On the same day, Metaplanet Inc. announced the issuance of its 3rd Series of Ordinary Bonds (Guaranteed) worth ?1.75 billion ($11.4 million), with an annual interest rate of 0.36%.

The funds raised will be allocated to purchasing Bitcoin.

Also Read: Tidus Wallet Brings Wormhole Integration For Ethereum-Solana Transfers

According to the company, the bonds are guaranteed by Representative Director Simon Gerovich, with collateral secured through a first-priority mortgage on the Hotel Royal Oak Gotanda, owned by Metaplanet's subsidiary, Wen Tokyo Inc.

Metaplanet’s latest Bitcoin acquisition is part of a broader movement among global companies such as Tesla, Block Inc. (formerly Square) and PayPal, which have added Bitcoin to their balance sheets over recent years.

Tesla famously invested $1.5 billion in Bitcoin in 2021, while Block Inc. committed $220 million across 2020 and 2021, signaling increasing corporate confidence in Bitcoin as a long-term asset.

Emulating these major firms, Metaplanet has branded itself as "Asia’s answer to MicroStrategy (MSTR)," with ambitions to build one of the largest Bitcoin treasuries among Asian companies.

Read Next:

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