Michael Saylor’s MSTR Acquires 2,932 Bitcoin in Strategic Move
In a notable strategic move, MSTR, also known as MicroStrategy, has recently acquired 2,932 Bitcoin as part of its ongoing investment strategy in cryptocurrency. This latest purchase was led by Michael Saylor, the Executive Chairman of the company.
MSTR’s Recent Bitcoin Acquisition
The acquisition of Bitcoin took place for a total of $264.1 million. This translates to an average buying price of $90,061 per Bitcoin. The new addition brings MSTR’s total Bitcoin holdings to an impressive 712,647, valued at approximately $54.19 billion. The company has effectively maintained an average purchase price of $76,037 for its total holdings.
Current Bitcoin Market Status
As of Monday morning, Bitcoin is trading around $87,500. This fluctuating market value renders MSTR’s Bitcoin assets worth just over $62 billion. The company’s consistent buying strategy highlights its commitment to cryptocurrency investment.
Funding Sources for Acquisition
According to a recent filing, MSTR financed the majority of last week’s Bitcoin purchases through common stock sales. Additionally, the company raised $7 million through the sale of its STRC series preferred stock, which contributed to the funding of its Bitcoin acquisition.
Summary of MSTR’s Bitcoin Strategy
- Recent Acquisition: 2,932 Bitcoin for $264.1 million
- Executive Leadership: Michael Saylor, Executive Chairman
- Total Bitcoin Holdings: 712,647 Bitcoin valued at $54.19 billion
- Average Purchase Price: $76,037 per Bitcoin
- Current Bitcoin Price: Approximately $87,500
- Market Value of Holdings: Over $62 billion
- Funding: Primarily from common stock sales and $7 million from STRC preferred stock
MSTR’s proactive approach underlines its ambition to be at the forefront of cryptocurrency investment. The continued acquisitions indicate a strong belief in Bitcoin as a valuable asset for long-term growth.
