Strategy Invests $2.54 Billion in Bitcoin, Acquiring 34,164 Coins

MicroStrategy (MSTR) expanded its bitcoin holdings by 34,164 last week, paying an average of $74,395 per coin, which totals approximately $2.54 billion, as disclosed in a recent filing. This acquisition brings the company's total bitcoin reserve to 815,061 BTC, valued at around $61.56 billion, with an average cost per coin of $75,527. Given the current bitcoin price of about $75,000, MicroStrategy's bitcoin 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 these purchases came from $2.2 million generated by selling its preferred stock, STRC, and $366 million raised through common stock sales. MicroStrategy's shares have declined by over 2.5% in pre-market trading.