MicroStrategy (MSTR), led by Executive Chairman Michael Saylor, continued its corporate Bitcoin accumulation strategy last week, purchasing 2,932 BTC for $264.1 million. This acquisition, executed at an average price of $90,061 per Bitcoin, marks a significant slowdown from the firm's previous two weeks of purchases, which each exceeded $1 billion.
The company's total Bitcoin holdings now stand at 712,647 BTC, acquired for a total of $54.19 billion at an average price of $76,037 each. Based on Bitcoin's price of approximately $87,500 at the time of the announcement, the company's treasury is worth just over $62 billion, representing a substantial unrealized gain.
Funding for the latest purchase came almost entirely from common stock sales, according to a regulatory filing. The company also raised an additional $7 million through the sale of its STRC series of preferred stock. Following the news, MSTR shares were down 2% in pre-market trading.
The purchase is seen by market analysts as a continued signal of institutional confidence in Bitcoin as a long-term treasury reserve asset. It follows a broader trend of sophisticated capital allocation toward decentralized networks, driven by factors such as Bitcoin's potential as an inflation hedge, its utility for portfolio diversification, and increasing regulatory clarity.
