MicroStrategy (NASDAQ: MSTR) evidently remains on the bid for bitcoin, revealing this morning it has made further purchases of the flagship cryptocurrency.
The company continues to turn interest in its equity from investors into that of Bitcoin, with the company reporting this morning that it has raised $333.7 million through an at-the-market offering conducted through Cowen and Company and Canaccord Genuity. A total of 1.1 million shares were sold under the offering to date, while the total offering size of $625.0 million suggests up to $291.3 million of additional shares can still be sold under the offering.
Those funds were promptly spent on Bitcoin, with the company indicating it has acquired a further 12,333 BTC at a total cost of $347.0 million. The bitcoin were acquired from April 29 through to June 27, at an average price of $28,136 per bitcoin.
READ: MicroStrategy Ends Q1 With Net Income For The First Time In Two Years, Thanks To Bitcoin
The latest purchases bring the total bitcoin holdings of MicroStrategy to 152,333 bitcoin, which the firm has spent a total of $4.52 billion acquiring. The average purchase price meanwhile is now $29,668 for the portfolio.
MicroStrategy last traded at $324.88 on the Nasdaq.
Information for this briefing was found via Edgar and the sources 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.
