MicroStrategy buys 9,245 more bitcoins for $623M in cash (NASDAQ:MSTR)

03/19/2024 20:53
MicroStrategy buys 9,245 more bitcoins for $623M in cash (NASDAQ:MSTR)

MicroStrategy acquires more bitcoins, raising its total stash to 214,246 tokens.

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MicroStrategy (NASDAQ:MSTR) has acquired 9,245 more bitcoins (BTC-USD) for $623M, bringing the software firm's total stash to some 214,246 tokens, it disclosed on Tuesday in an SEC filing.

Of the $623M, $592.3M was raised from MicroStrategy's (MSTR) latest convertible debt offering and the remaining $30.7M was excess cash. The most recent batch of coins were purchased at an average price of ~$67,382 per coin between March 11 and March 18.

In all, the company, led by executive chairman Michael Saylor, has paid about $7.53B for its bitcoin (BTC-USD) holdings, or ~$35,160 per bitcoin, as of March 18.

Meantime, with bitcoin (BTC-USD) slumping 6.5% in Tuesday morning trading, MicroStrategy (MSTR) shares retreated 13.7% at the time of writing.

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