MicroStrategy Bitcoin Holdings Reach 848000 BTC Shares Rise
MicroStrategy Inc. (MSTR) saw its shares climb 1.60% to $162.57 on Monday after announcing its Bitcoin holdings had reached 848,000 BTC. The company acquired 334 BTC between October 1 and October 4 for $28.7 million, partly funded by $15.7 million from stock sales. The total cost for its Bitcoin holdings now stands at approximately $63.97 billion, with an average purchase price of $75,437 per BTC.
The latest purchase was disclosed in a Form 8-K filing on October 5. MicroStrategy also repurchased 740,634 shares of its STRC preferred stock for $73.7 million during the same period. The company retains $18.83 billion in capacity under its MSTR at-the-market offering program.
In addition to the Bitcoin update, MicroStrategy released preliminary third-quarter financial figures. The company estimated a $20.91 billion gain on digital assets for Q3, with a deferred tax expense of $1.88 billion. The carrying value of its digital assets was estimated at $70.82 billion as of September 30.
The stock's intraday performance was not attributed to the Bitcoin acquisition in the filing. MicroStrategy's holdings represent roughly 4.04% of Bitcoin's 21 million maximum supply, making it the largest publicly disclosed corporate Bitcoin holder.