Michael Saylor Announces $742.4 Million Bitcoin Purchase, Boosting Holdings to 478,740 BTC
MicroStrategy (MSTR) has expanded its bitcoin (BTC) holdings to a total of 478,740 BTC after acquiring $742.4 million worth of the leading cryptocurrency. This move follows a brief pause in purchases last week.
On February 9, the Tysons Corner-based company, which was previously known as MicroStrategy, acquired 7,633 BTC at an average price of $97,255 per coin. This raised the company’s overall average purchase price to $65,033 per bitcoin.
The previous week, ending February 2, saw no bitcoin purchases, likely due to a blackout period surrounding the company’s earnings week. On February 6, MicroStrategy reported a fourth-quarter net loss of $3.03 per share, a sharp decline from the income of $0.50 per share recorded the previous year.
The recent bitcoin acquisitions were funded by proceeds from the sale of shares under an agreement and from a perpetual preferred equity offering by Strike (STRK).
As has become customary, Executive Chairman Michael Saylor teased the purchase announcement over the weekend, posting on X: “Death to the blue lines. Long live the green dots.”
