MicroStrategy — led by executive chairman Michael Saylor — kept piling on bitcoin last week, filing that it bought another $1.57 billion worth of BTC as part of its ongoing accumulation strategy.
Key details
- Purchase: 22,337 bitcoin
- Average price paid for this tranche: $70,194 per BTC
- Total company holdings: 761,068 BTC
- Company-wide average cost basis: $75,696 per BTC (total acquisition cost ≈ $57.61 billion)
- Significance: This was MicroStrategy’s fifth-largest weekly bitcoin purchase by amount acquired
How it was financed
MicroStrategy said the latest buy was mainly financed with $1.1 billion raised from sales of its STRC series preferred stock, plus $396 million from common stock sales.
Market reaction
- Bitcoin was trading around $73,600 Monday morning, up about 2.6% over the prior 24 hours.
- MicroStrategy (MSTR) shares were up roughly 4% in pre-market trading.
Context
The move continues MicroStrategy’s long-running strategy of using the balance sheet to accumulate bitcoin, keeping the company at the top of the list of publicly traded corporate holders.
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