MicroStrategy Expands Its Bitcoin Holdings

In a significant investment move, MicroStrategy Inc., operating under the name Strategy, has announced the acquisition of 6,556 Bitcoin for approximately $555.8 million in cash. This purchase was made between April 14 and April 20, as detailed in the company's recent Securities and Exchange Commission (SEC) filing.

Investment Details

The company disclosed that the Bitcoin was purchased at an average price of around $84,785 per coin, which includes fees and expenses. Funding for this acquisition came from the sale of 1,7555,000 of its shares, generating net proceeds of $547.7 million.

Current Holdings and Market Reaction

According to the SEC filing, Strategy and its subsidiaries now possess a total of 538,200 Bitcoin, acquired for an aggregate price of about $36.47 billion, averaging $67,766 per Bitcoin. Following the announcement, the company's shares experienced a 2.60% increase in premarket trading, reaching $325.45 per share.