MicroStrategy's Bold Bitcoin Move

In a significant expansion of its cryptocurrency holdings, MicroStrategy Incorporated announced the acquisition of 4,225 Bitcoin for approximately $472.5 million. This strategic purchase was made between July 7 and July 13, as detailed in the company's recent SEC filing.

Financial Details Behind the Purchase

The company disclosed that the average purchase price per Bitcoin was around $111,827, inclusive of fees and expenses. Funding for this acquisition was sourced from the sale of 797,008 common shares, amounting to $330.9 million, alongside proceeds from its preferred shares and ATM programs.

MicroStrategy's Growing Bitcoin Treasury

Following this latest investment, MicroStrategy and its subsidiaries now boast ownership of 601,550 Bitcoin, acquired at a total cost of roughly $42.87 billion. This translates to an average price of $71,268 per Bitcoin. The announcement positively impacted the company's stock, which saw a 2.72% increase, trading at $446.40 shortly after the filing's release.