The firm purchased 1,587 BTC at an average price of $63,024 before a 4% rally on geopolitical and IPO news.
MicroStrategy (NASDAQ: $MSTR) acquired $100 million worth of Bitcoin (CRYPTO: $BTC) in the past week, buying 1,587 BTC at an average price of $63,024. The purchase boosts its total holdings to 846,842 BTC, valued at $56 billion, while cash reserves rose to $1.1 billion.
The move precedes a 4% surge in Bitcoin’s price to $66,205, driven by reports of a U.S.-Iran peace deal and SpaceX’s (NASDAQ: $SPCX) IPO completion. BTC had traded as low as $60,000 earlier in the week. Other cryptocurrencies followed, with Ethereum (CRYPTO: $ETH) up 6% and Solana (CRYPTO: $SOL) and XRP (CRYPTO: $XRP) rising over 8%.
The peace deal, expected to reopen the Strait of Hormuz, sent oil prices down 5% to near $80 a barrel. MicroStrategy remains the largest corporate Bitcoin holder, owning 4% of the circulating supply.