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.

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