Key Highlights:

• MicroStrategy acquired another 6,911 bitcoin over the past week at an average cost of $84,529 each.
• Funding for the additional purchases came from the sale of common stock.
• The company now holds 506,137 bitcoin purchased at an average price of $66,608 each.

MicroStrategy, led by CEO Michael Saylor, has now surpassed 500,000 tokens in its bitcoin portfolio following substantial acquisitions made last week. The company purchased 6,911 bitcoin for $584.1 million, which translates to an average cost of $84,529 per token, according to a filing released Monday morning.

This investment has raised the company’s total holdings to 506,137 BTC, with an overall expenditure of $33.7 billion at an average cost of $66,608 per token. The latest round of acquisitions was financed through the sale of approximately 1.975 million shares of common stock, generating about $592.6 million.

Additionally, MicroStrategy’s recent preferred stock offering of $711 million was only priced late last week, with 13,100 shares sold, resulting in $1.1 million raised as per the filing. Following this news, the company’s stock increased by 4.8% in premarket trading amidst a surge in bitcoin price, which has risen above $87,000.