MicroStrategy Expands Bitcoin Holdings with Additional 535 Coin Purchase

MicroStrategy has continued its aggressive investment in bitcoin, purchasing an additional 535 coins at an average price of $80,340 per coin.

The total value of this latest purchase is approximately $43 million, bringing the company's total holdings to 818,869 BTC.

This investment was funded by the sale of common stock, which raised around $42.9 million, according to a May 11 SEC filing.

It's worth noting that this move comes after the company's first-quarter earnings call, where MicroStrategy announced its readiness to sell bitcoin to repay convertible debt or fund dividend obligations, provided it remains accretive on a bitcoin-per-share basis.