MicroStrategy Buys 1,587 BTC for $100M, Holdings Reach 846.8K

Key facts

• MicroStrategy purchased 1,587 Bitcoin for $100 million.
• The company's total Bitcoin holdings now stand at 846,842 BTC.
• The acquisition was funded by $100 million from USD reserves.
• MicroStrategy's stock (MSTR) increased by 7% following the announcement.
• The company also sold $209 million in MSTR stock, which helped lower its average cost basis.

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.