MicroStrategy Expands Bitcoin Holdings with $742.4 Million Purchase, Total Now at 478,740 BTC
MicroStrategy (MSTR) has added to its substantial Bitcoin portfolio with a $742.4 million purchase of 7,633 BTC, bringing its total holdings to 478,740 BTC. This follows a brief hiatus in Bitcoin buying during the previous week.
The purchase was made at an average price of $97,255 per Bitcoin, pushing MicroStrategy’s overall average acquisition cost to $65,033 per BTC. The company did not make any acquisitions in the week ending February 2, likely due to a blackout period in conjunction with its earnings report.
On February 6, MicroStrategy posted a fourth-quarter net loss of $3.03 per share, a stark contrast to a profit of $0.50 per share during the same period the year before.
The Bitcoin purchase was funded through proceeds from a stock sale agreement and a perpetual preferred equity offering from Strike (STRK). Michael Saylor, the company’s Executive Chairman, once again teased the acquisition with a social media post: “Death to the blue lines. Long live the green dots.”
