- MicroStrategy added 855 Bitcoin last week, a smaller-than-usual purchase funded by selling common stock.
- The company’s total Bitcoin holdings now stand at 713,502 coins, with an average purchase price of $76,052 each.
- With Bitcoin currently trading just above $77,000, the firm’s massive position is hovering just above its overall cost basis.
- Shares of MSTR fell sharply in premarket trading, hitting a new multi-year low.
Led by executive chairman Michael Saylor, MicroStrategy (MSTR) continued its weekly Bitcoin acquisition strategy, purchasing 855 coins in a relatively small buy last week, according to a Monday morning filing. The company funded the $75.3 million purchase, which averaged $87,974 per Bitcoin, through the sale of common stock.
This acquisition was notably smaller than the firm’s typical weekly purchases, which have often amounted to hundreds of millions or billions of dollars over recent months. Consequently, MicroStrategy‘s total holdings now stand at 713,502 Bitcoin, acquired for approximately $54.26 billion with an average price of $76,052 per coin.
Following a recent price tumble, Bitcoin is trading just above $77,000. This places the company’s enormous position just slightly above its overall acquisition cost after roughly five and a half years of accumulation. Meanwhile, MSTR shares dropped 7.3% in premarket trading to a multi-year low of $138.80.
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