MicroStrategy's Bold Bitcoin Investment

In a significant expansion of its cryptocurrency portfolio, MicroStrategy Incorporated has purchased an additional 21,021 Bitcoin, investing approximately $2.46 billion. This acquisition took place between July 28 and August 3, as revealed in the company's latest SEC filing.

Details of the Deal

The purchase was made at an average price of about $117,256 per Bitcoin, inclusive of fees and expenses. Funding for this substantial investment came from the sale of 28,011,111 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), priced at $90 per share in a public offering.

MicroStrategy's Growing Crypto Holdings

Following this latest transaction, MicroStrategy and its subsidiaries now possess a total of 628,791 Bitcoin, acquired for an aggregate price of roughly $46.08 billion. This averages out to approximately $73,277 per Bitcoin. The announcement spurred a 1.92% increase in the company's stock price during premarket trading, reaching $373.66 by 8:26 am ET.