MicroStrategy Adds 3,081 Bitcoin Amid Market Volatility, Pushing Total Holdings Beyond 632K BTC
Despite heightened price volatility, MicroStrategy (MSTR) continued to expand its Bitcoin holdings last week, acquiring an additional 3,081 BTC for approximately $356.9 million, at an average price of $115,829 per coin.
This latest purchase brings the company’s total holdings to 632,457 BTC, acquired at a cumulative cost of $46.5 billion, or an average purchase price of $73,527 per coin. As of Monday morning, with Bitcoin trading near $111,000, the firm’s holdings are valued at roughly $70.2 billion.
The bulk of last week’s acquisition was funded through the sale of common stock, from which MicroStrategy raised $300.9 million. Additional funding came from modest sales of three out of four existing preferred stock classes.
However, the latest move sparked criticism from some shareholders after the firm appeared to walk back its prior commitment not to sell equity below 2.5x market-adjusted net asset value (mNAV). MicroStrategy’s mNAV multiple has remained below 2x for several weeks, raising questions about the consistency of its capital strategy.
Shares of MSTR were down more than 4% in pre-market trading, mirroring Bitcoin’s recent decline.
