MicroStrategy acquired an additional 1,587 Bitcoin for $100 million, bringing its total holdings to 846,842 BTC. The company also increased its USD reserves, with its stock surging 7% following the announcement.
MicroStrategy's continued aggressive accumulation of Bitcoin signals strong conviction in the cryptocurrency as a treasury reserve asset, potentially influencing other corporate treasuries and investor sentiment towards digital assets.
MicroStrategy has acquired an additional 1,587 Bitcoin for $100 million, bringing its total holdings to 846,842 BTC. The company utilized $100 million from its USD reserves for this purchase, which occurred at an average price of $63,024 per Bitcoin. This latest acquisition comes as MicroStrategy also sold $209 million in MSTR stock, a move that helped to lower its average cost basis. Following the announcement, MicroStrategy's stock (MSTR) surged 7%. The company's total Bitcoin holdings are now valued at approximately $56 billion.