MicroStrategy's Latest Bitcoin Investment

In a significant move that underscores its confidence in cryptocurrency, MicroStrategy Incorporated has purchased 4,980 Bitcoins for approximately $531.9 million in cash. This acquisition took place between June 23 and June 30, as revealed in the company's recent SEC filing.

Investment Details

The company disclosed that the average purchase price was around $106,801 per Bitcoin, inclusive of fees and expenses. Funding for this transaction was sourced from the proceeds of the MSTR ATM, STRK ATM, and STRF ATM.

Current Holdings and Market Reaction

Following this purchase, MicroStrategy and its subsidiaries now hold a staggering 597,325 Bitcoins. These were acquired at a total cost of about $42.40 billion, averaging $70,982 per coin. The announcement spurred a 1.67% increase in the company's share price during premarket trading, with shares trading at $383.88 each.