Michael Saylor Accumulates 3,081 Bitcoins, Bringing Total Holdings to Nearly 632.5K
Crypto/Finance
 Trade Crypto on eToro

Michael Saylor Accumulates 3,081 Bitcoins, Bringing Total Holdings to Nearly 632.5K

Last week's Bitcoin purchases were executed at an average cost of $115,829 each, primarily funded through common stock sales.

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.

Next article

Crypto Markets Update: Bitcoin Sees Decline While Hyperliquid Surges to $3.4B in Trading Volume

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!