MicroStrategy Acquires 34,164 Bitcoin for $2.54 Billion
MicroStrategy has made a significant move in the cryptocurrency market by acquiring 34,164 Bitcoin for approximately $2.54 billion. This purchase took place last week at an average price of about $74,395 per coin, according to a recent filing.
MicroStrategy’s Bitcoin Holdings
With this latest acquisition, MicroStrategy now holds a total of 815,061 BTC. The company has invested around $61.56 billion in Bitcoin, with an average cost per coin of $75,527. Currently, Bitcoin is trading near $75,000, positioning MicroStrategy’s investment at break-even.
Funding Sources for the Acquisition
The recent Bitcoin purchases were funded through a combination of sources:
- $2.2 million raised through sales of preferred stock, Stretch (STRC)
- $366 million sourced from common stock offerings
MicroStrategy’s Position in the Crypto Market
MicroStrategy is recognized as the largest publicly listed holder of Bitcoin globally. The company embarked on its journey of accumulating Bitcoin as an asset for its balance sheet back in 2020. However, despite these robust investments, MSTR shares experienced a decline of over 2.5% in pre-market trading following the recent acquisition.
