MicroStrategy (MSTR), a company focused on Bitcoin development, has expanded its Bitcoin holdings, acquiring 51,780 BTC for $4.6 billion over the six days ending Sunday. This latest purchase brings the company’s total Bitcoin reserve to 331,200 BTC, which was acquired at an estimated cost of $16.5 billion. With the current Bitcoin price hovering around $90,000, these holdings are now valued at just under $30 billion.
To finance this acquisition, MicroStrategy utilized its at-the-market share issuance program, selling approximately 13.6 million shares for $4.6 billion. According to a regulatory filing released on Monday, the company still has the ability to sell an additional $15.3 billion worth of stock under the program.
Over the weekend, Executive Chairman Michael Saylor hinted at this purchase on social media. This follows a similar announcement just one week ago, when MicroStrategy revealed it had purchased 27,200 BTC for $2 billion. Over the past few weeks, the company has added roughly 72,000 BTC to its portfolio, spending $6.6 billion in total.
Although MicroStrategy’s stock (MSTR) is down 1% in premarket trading, it remains up nearly 400% year-to-date.
