MicroStrategy acquired 1,550 BTC for $101 million last week, reversing a prior sale that triggered a sharp stock decline.
MicroStrategy bought 1,550 Bitcoin for $101 million last week at an average price of $65.3k, marking a return to its accumulation strategy. The purchase followed a 32 BTC sale that contributed to the firm’s worst weekly performance since November 2022.
The company funded the acquisition through a $181 million share-sale program, using $101 million for Bitcoin and allocating the remaining $80M to rebuild cash reserves. Cash reserves had fallen to $1B after a 61% reduction last month to repurchase debt at a discount.
MSTR shares rose 6% following the announcement, while Bitcoin held steady at $62.7k amid broader crypto market stability. JPMorgan noted the cash reserve rebuild may restore confidence in dividend obligations for preferred stockholders.