MicroStrategy Acquires 7,002 Bitcoin From ATM Financing Proceeds
Evidently MicroStrategy Inc (NASDAQ: MSTR) is in the business of effectively exchanging shares for bitcoin. The company this morning provided the market with an update to its current bitcoin holdings, indicating it has acquired a total of 7,002 additional bitcoins.
The latest announcement brings the total bitcoin holdings of the company to 121,044. The latest round, which was conducted in the current fourth quarter to date, saw the additional BTC acquired at an average price of $59,187 per each, with a total of $414.4 million spent on the coins.
Overall, following the purchase the company has seen the average price paid across all of its bitcoin holdings rise to $29,534.
Comparatively, under the currently ongoing $1.0 billion at-the-market financing being conducted by the company, the firm in the fourth quarter has likewise sold $414.4 million in company stock directly to investors. A total of 571,001 shares were sold at an average price of $732.16 per share, which based on the dollar value alone, went directly into bitcoin purchases.
MicroStrategy last traded at $663.00 on the Nasdaq.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
