MicroStrategy Invests $2.54 Billion in Bitcoin, Expanding Its Holdings

MicroStrategy, led by Michael Saylor, has acquired an additional 34,164 bitcoins at an average price of $74,395 per coin, bringing the total investment to approximately $2.54 billion, as disclosed in a recent filing. This purchase increases the company's total bitcoin holdings to 815,061, with a total investment of around $61.56 billion and an average cost of $75,527 per coin. Given the current market price of around $75,000, MicroStrategy's bitcoin holdings are currently at break-even. As the largest publicly traded bitcoin holder, the company initiated its bitcoin investment strategy in 2020. The funding for the recent purchases came from the sale of its preferred stock, known as STRC, which generated $2.2 million, and common stock offerings, which raised $366 million. MicroStrategy's shares have declined by over 2.5% in pre-market trading.