MicroStrategy boosts bitcoin holdings by 535 BTC at $80,340 average price, funded by $42.9 million stock sale.
MicroStrategy purchased 535 bitcoin for $43 million last week at an average price of $80,340 per coin. The move follows the company’s recent indication it could sell BTC to repay debt or fund dividends if accretive to bitcoin-per-share metrics.
The company’s total bitcoin holdings now stand at 818,869 BTC, acquired for $61.86 billion at an average cost of $75,540 per coin. With BTC trading above $81,000, the portfolio is currently in profit. The latest purchase was funded by $42.9 million from preferred stock sales, per an SEC filing.
MSTR shares rose 1% in pre-market trading. The company previously sold 704 BTC in December 2022 for tax-loss harvesting before repurchasing.