The firm acquired 1,550 bitcoin for $101 million and raised $181 million via stock sales to bolster liquidity.
MicroStrategy purchased 1,550 bitcoin for approximately $101 million, increasing its total holdings to 845,256 BTC. The acquisition follows a 15% drop in bitcoin prices last week, with the cryptocurrency briefly trading below $60,000 before rebounding above $62,000.
The company funded the purchase and expanded its cash reserves by raising $181 million through common stock sales. Total cash reserves now stand at $1 billion, up $100 million. The latest bitcoin acquisition was made at an average price of $65,332 per BTC, below the firm’s overall average purchase price of $75,680.
MicroStrategy’s total bitcoin holdings are now valued at just under $64 billion based on acquisition costs. The move marks the first bitcoin purchase since the firm sold 32 BTC earlier this month.