MicroStrategy Incorporated has completed its tenth Bitcoin purchase, acquiring 592 Bitcoins at a cost of approximately $39.8 million. Since adopting Bitcoin as its primary reserve asset in 2020, the company has consistently increased its holdings. The average price per Bitcoin in this latest acquisition was about $67,286. To fund this purchase, MicroStrategy sold 297,940 shares of its Class A common stock, raising nearly $39.7 million. The company now owns a total of 717,722 Bitcoins, acquired at an aggregate cost of roughly $5.456 billion, making it the largest corporate Bitcoin treasury globally.
MicroStrategy has $37.4 billion in securities available for future stock issuance, including $7.8 billion in MSTR stock and $20.3 billion in STRK stock. The company maintains transparency and regulatory compliance by providing detailed information about its Bitcoin holdings and market valuations on a public dashboard. Recently, Bitcoin’s price fell from approximately $68,000 to near $66,000, resulting in a corresponding decline in MicroStrategy’s stock price, reflecting the close correlation between the two.
Executive Chairman Michael Saylor described this purchase as “The Orange Century,” underscoring the company’s ongoing commitment to Bitcoin investment. He emphasized that MicroStrategy does not intend to sell its Bitcoin reserves and will continue buying regardless of market conditions. This sustained significant investment signals growing institutional interest and acceptance of Bitcoin, although price volatility presents risks and challenges for investors.
Source: bitcoinmagazine
