MicroStrategy, a business intelligence firm and corporate Bitcoin holder, has acquired an additional 15,350 BTC for approximately $1.5 billion, bringing its total holdings to 439,000 BTC.

Meanwhile, Microsoft shareholders voted against a proposal to add Bitcoin to its balance sheet. The company's board had recommended a rejection, making the outcome unsurprising.

MicroStrategy Sells Shares for Bitcoin

The purchases occurred between December 9 and December 15 at an average price of $100,386 per bitcoin, as disclosed in an 8-K filing with the U.S. Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission on Monday.

During the same period, the company sold 3,884,712 shares, raising $1.5 billion. MicroStrategy reported that $7.65 billion worth of shares remain available for sale under its ongoing equity offering. This forms part of a planned $42 billion capital raise, involving $21 billion each in equity and fixed-income securities.

As of December 15, MicroStrategy holds Bitcoin valued at over $45 billion at current market rates. The company’s total Bitcoin investment stands at $27.1 billion, including fees and expenses, reflecting an average purchase price of $61,725 per bitcoin. The holdings represent about 2.1% of Bitcoin’s capped supply of 21 million.

MicroStrategy has acquired 15,350 Bitcoin for $1.5 billion dollars and now holds a total of 439,000 BTC.

Michael Saylor is RELENTLESS. pic.twitter.com/6PR4HnpyGb

— The ₿itcoin Therapist (@TheBTCTherapist) December 16, 2024

Investors Question Bitcoin Acquisition Strategy

The latest acquisition marks the sixth consecutive week of significant Bitcoin purchases by MicroStrategy. The firm had announced the acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of 21,550 BTC for $2.1 billion the prior week and $1.5 billion in Bitcoin the week before that. These purchases have added $17.5 billion in Bitcoin to its portfolio in six weeks, accounting for nearly 39% of its total position.

Despite its growing Bitcoin reserves, MicroStrategy faces skepticism over its equity and debt-funded acquisition strategy. The company’s $92 billion market capitalization trades at a premium compared to its Bitcoin net asset value, raising concerns among investors.

JUST IN: Microsoft shareholders vote AGAINST buying #Bitcoin as a treasury reserve asset.

Losers…

pic.twitter.com/TPqdxZylpB

— Bitcoin Archive (@BTC_Archive) December 10, 2024

Microsoft’s Bitcoin Proposal Rejected by Shareholders

Microsoft shareholders voted against the proposal to add Bitcoin to the company’s balance sheet, in line with the board's recommendation.

Had the proposal passed, other companies could have followed suit, potentially increasing Bitcoin adoption across corporate America and driving up its price. This could have led to significant financial gains for some investors.

The National Center For Public Policy Research, behind the Microsoft proposal, has already indicated plans to target Amazon for a similar proposal in April. As Bitcoin prices continue to rise, other companies might consider adding Bitcoin to their balance sheets to avoid shareholder backlash.

Currently, companies with the most Bitcoin holdings are those directly involved in the crypto industry, such as Coinbase and MicroStrategy. However, some companies outside the crypto sector, like Tesla, have also made Bitcoin acquisitions.

Recently, a few biotech companies announced plans to purchase Bitcoin as a way to participate in its potential upside and build shareholder value. If successful, this approach could gain traction among other firms.

Michael Saylor of MicroStrategy suggested that Microsoft could benefit from buying up to $100 billion in Bitcoin annually.