MicroStrategy Boosts Bitcoin Holdings with $43 Million Purchase

MicroStrategy has made another significant purchase of bitcoin, adding 535 coins to its existing holdings. The total cost of the purchases is approximately $43 million, with an average price of around $80,340 per coin.

The company's total bitcoin holdings now stand at 818,869 BTC, acquired for a total of $61.86 billion at an average cost basis of $75,540. This purchase comes after Strategy indicated in its first-quarter earnings call that it was prepared to sell some of its bitcoin if the move remained accretive on a bitcoin-per-share basis.

The purchases were funded by the sale of common stock, with the company raising around $42.9 million through this means, according to a recent SEC filing.