Michael Saylor's Firm Acquires Nearly 5,000 Bitcoin in Recent Week, Increasing Holdings to 597,325
Finance/Markets

Michael Saylor's Firm Acquires Nearly 5,000 Bitcoin in Recent Week, Increasing Holdings to 597,325

MicroStrategy's recent purchase of 4,980 Bitcoin has heightened its total holdings, emphasizing its commitment to cryptocurrency despite market fluctuations.

Trade with eToro

Trade with eToro

Open an account

Trade on XM

Trade on XM

Open an account

In a bold move, MicroStrategy (MSTR) has purchased 4,980 Bitcoin (BTC) valued at $531.9 million in the last week. This acquisition has been largely financed via the sale of preferred stock. With this latest purchase, the company’s total Bitcoin holdings have soared to 597,235 BTC, which were acquired for a total of $42.4 billion, averaging at $70,982 per coin.

At the current Bitcoin price of approximately $107,500, these holdings now exceed a value of $64 billion.

Key Takeaways:

  • MicroStrategy adds 4,980 BTC for $531.9 million.
  • Total Bitcoin reserves reach 597,235 BTC, acquired at an average price of $70,982 each.

MicroStrategy Bitcoin Acquisition

Funding Strategy

The purchase was primarily supported through $519 million from common share sales, complemented by about $59 million from the sale of STRK and STRF preferred stocks.

As a result, MSTR’s shares have increased by 3.6%, reaching $397.49.

Next article

Spanish Authorities Detain Five in Alleged $540 Million Cryptocurrency Fraud Scheme

Newsletter

Get the most talked about stories directly in your inbox

Every week we share the most relevant news in tech, culture, and entertainment. Join our community.

Your privacy is important to us. We promise not to send you spam!