MicroStrategy Spends $147.3 Million To Acquire 5,445 Bitcoin

MicroStrategy (NASDAQ: MSTR) continues to dilute its equity in an effort to acquire more bitcoin. The firm this morning disclosed that it has purchased an additional 5,445 bitcoin as of September 24.

The additional bitcoin was acquired for a total figure of $147.3 million, with each bitcoin purchased at an average price of $27,053. The figure resulted in the company lowering its average cost basis of its entire holdings, which now sits at $29,582 per BTC.

MicroStrategy now holds 158,245 bitcoin as of September 24.

The purchase was funded via equity sold under an at-the-market financing lead by Cowen and Company. The company sold 403,362 additional shares under that financing to raise proceeds of $147.3 million, thereby funding the purchase of bitcoin.

MicroStrategy last traded at $323.62 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.

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