
Amid considerable market fluctuations, MicroStrategy (MSTR) added 3,081 Bitcoins to its portfolio last week at a total cost of $356.9 million, averaging $115,829 per coin.
The firm’s total Bitcoin holdings now stand at 632,457 BTC, valued at approximately $70.2 billion in U.S. dollars, given the recent decline in Bitcoin’s price to about $111,000.
Last week’s acquisitions were primarily financed through sales of common stock, raising $300.9 million. Minor sales from three of the four preferred stock issues made up the remainder of the funding.
Saylor recently faced criticism from some supporters for altering a pledge regarding common stock sales when prices fell below a specific metric, called mNAV, which reflects the company’s valuation compared to its Bitcoin assets.
The mNAV ratio has been under 2x for some time, and with the recent drop in MSTR’s stock by over 4%, pressure continues to mount on the strategy and its management.