MicroStrategy Purchases 1,434 Bitcoin For $82.4 Million

MicroStrategy Inc (NASDAQ: MSTR) appears to be buying the dip in bitcoin. The firm this morning filed a report with the Securities and Exchange Commission, wherein it revealed it had acquired further bitcoin since its last announcement on November 29.

The firm this morning revealed that between November 29 and December 8, the company had acquired a further 1,434 bitcoin, via cash, at an average price of $57,477 per bitcoin – signaling that the majority of those purchases likely occurred on the front end of that timeline, given that the price of the crpyto hasn’t been near that level since December 3.

The purchase came at a total cost of $82.4 million, with the company paying for the purchases via the sale of its shares directly on the Nasdaq under an at the market financing. A total of 119,828 shares of the company were sold at an average price of $693.10 over the same timeframe, generating net proceeds of $82.4 million.

Following the transactions, the firm now holds a total of 122,478 bitcoins at an average price of $29,861.

MicroStrategy last traded at $636.54 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.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

MicroStrategy Spends $94.2 Million Buying Further Bitcoin, Concludes Open Market Sale Agreement

If one positive thing can be said about MicroStrategy Inc (NASDAQ: MSTR), it’s that they...

Thursday, December 30, 2021, 08:34:42 AM

MicroStrategy: Canaccord Initiates With $920 Price Target

On Friday, Canaccord Genuity initiated coverage on MicroStrategy (NASDAQ: MSTR) with a $920 price target...

Monday, April 12, 2021, 04:03:00 PM

Strategy To Sell $2.0 Billion In 0% Notes To Buy More Bitcoin

Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, has launched an offering for $2.0 billion in...

Wednesday, February 19, 2025, 08:35:46 AM

Bitcoin Crosses $84,000 As MicroStrategy Drops $2 Billion Acquiring 27,200 More BTC

The price of bitcoin has sailed past the $84,000 mark, topping out at $84,788per US...

Monday, November 11, 2024, 12:14:00 PM

MicroStrategy Buys More Bitcoin As It Sustains More Losses From Crypto Investment

MicroStrategy (Nasdaq: MSTR) announced on Tuesday its Q3 2022 financial results toplined by a quarterly...

Wednesday, November 2, 2022, 09:59:05 AM