Strategy Acquires 34,164 Bitcoins for $2.54 Billion in Third-Largest Purchase on Record

MicroStrategy (MSTR) expanded its bitcoin reserves by 34,164 coins last week, paying an average of $74,395 per coin, which translates to a total expenditure of approximately $2.54 billion, as disclosed in a recent filing. This acquisition increases the company's total bitcoin holdings to 815,061, with a cumulative investment of around $61.56 billion and an average cost per coin of $75,527. Given the current bitcoin price of about $75,000, Strategy's holdings are currently at break-even. As the world's largest publicly traded bitcoin holder, Strategy initiated its bitcoin acquisition strategy in 2020 as a balance sheet asset. The recent purchases were made possible by $2.2 million generated from the sale of its preferred stock, STRC, and $366 million from common stock offerings. MSTR shares have dropped by over 2.5% in pre-market trading.