MicroStrategy Adds 3,081 Bitcoin Amid Market Volatility, Total Holdings Now Exceed 632K BTC
MicroStrategy (MSTR) expanded its bitcoin holdings last week, purchasing 3,081 BTC for approximately $356.9 million at an average price of $115,829 per coin.
The latest acquisition brings the company’s total holdings to 632,457 BTC, accumulated at a cost basis of $46.5 billion and an average entry price of $73,527. At current market prices around $111,000, the position is valued at roughly $70.2 billion.
Most of the funding for the recent purchase came from a $300.9 million common stock sale, supplemented by modest sales from three of the company’s four preferred stock issuances.
The move follows a period of heightened market volatility and comes just as MicroStrategy faces scrutiny for altering a previously stated policy. The firm had pledged not to sell common equity when its price was below 2.5x its modified net asset value (mNAV), a threshold that has not been met in recent weeks, with MSTR’s multiple dipping below 2x.
Shares of MSTR dropped more than 4% in pre-market trading, in step with bitcoin’s recent pullback.
