- MicroStrategy Executive Chairman Michael Saylor signaled plans to acquire more Bitcoin on Sunday via a social media post.
- The firm currently holds 720,737 BTC worth approximately $48.54 billion, purchased at an average price of $75,985.
- Its Bitcoin holdings are down roughly 11.37% from the average purchase cost, representing a $6.22 billion unrealized loss.
- Last week, the company purchased 101 BTC at $67,700 and raised capital through a preferred stock offering.
On Sunday, MicroStrategy Executive Chairman Michael Saylor indicated the company would again buy Bitcoin, posting “The Second Century Begins” alongside a corporate holdings chart on X. The firm has completed 101 purchases, amassing 720,737 BTC at an average cost of $75,985. Consequently, its $48.54 billion reserve is currently down about 11.37% compared to that average price.
Bitcoin was trading at $67,124, down 1.2% over 24 hours. Meanwhile, MicroStrategy‘s stock traded at $132.83 in after-hours, slightly below its Friday close of $133.53. The company recently purchased 101 BTC at an average cost of $67,700. It raises capital for these acquisitions through operating cash flow, stock offerings, and debt instruments like convertible bonds.
This strategy is predicated on Bitcoin being a superior long-term store of value compared to fiat currency. Retail sentiment for both BTC and MSTR remained ‘bullish’ on Stocktwits, with chatter levels described as ‘low’.
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