Strategy Invests $2.54 Billion in 34,164 Bitcoins, Marking Third-Largest Acquisition

MicroStrategy (MSTR) expanded its bitcoin reserves by 34,164 last week, with an average purchase price of approximately $74,395 per coin, totaling around $2.54 billion, as disclosed in a recent filing. This acquisition brings the company's total bitcoin holdings to 815,061, valued at roughly $61.56 billion, with an average cost per coin of $75,527. Currently, with bitcoin trading at approximately $75,000, the company's holdings are at a break-even point. As the largest publicly traded bitcoin holder globally, MicroStrategy initiated its bitcoin acquisition strategy in 2020 as a balance sheet asset. The funding for the recent purchase was generated through the sale of the company's preferred stock, STRC, which raised $2.2 million, and common stock offerings, which raised $366 million. MicroStrategy's shares have declined by over 2.5% in pre-market trading.