MicroStrategy Purchases $370 Million Worth of Bitcoin
MicroStrategy (NASDAQ: MSTR) has acquired 4,603 Bitcoins for a total cost of $369.7 million in the past week, marking its first Bitcoin purchase in two months. The company funded this acquisition by selling $602.8 million worth of common stock and used part of the proceeds to buy back preferred shares (NASDAQ: STRC) valued at $151.8 million. MicroStrategy now holds 845,050 Bitcoins, which it has purchased for a total cost of $63.73 billion over time. The company's average purchase price per Bitcoin is currently $75,412, while the current market price stands at around $77,800 as of August 31. Bitcoin saw strong performance in August with a gain of 24%, its best monthly return since November 2024. Meanwhile, MicroStrategy's stock has declined by 63% over the past year.
Tickers: $MSTR
Topics: Bitcoin corporate finance MSTR stock purchase stock sale