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

MicroStrategy (MSTR) has expanded its bitcoin holdings by 34,164, purchasing the coins at an average price of $74,395, resulting in a total expenditure of approximately $2.54 billion, as disclosed in a recent filing. This acquisition brings the company's total bitcoin reserves 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 approximately $75,000, MicroStrategy's holdings are currently at a break-even point. As the largest publicly traded bitcoin holder globally, the company initiated its bitcoin acquisition strategy in 2020 as a balance sheet asset. The latest purchases were made possible by $2.2 million raised from the sale of its preferred stock, STRC, and $366 million generated from common stock offerings. MicroStrategy's shares have declined by over 2.5% in pre-market trading.