MicroStrategy Bolsters Bitcoin Holdings, Boosts Preferred Stock Buybacks
MicroStrategy has made significant moves in its Bitcoin holdings and preferred stock management. From September 21 to 27, the company purchased 1,665 BTC at an average price of $85,681 per coin.
This purchase increased MicroStrategy's total Bitcoin holdings to 847,000 coins, with a total acquisition cost of $63.95 billion and an average cost of $75,437 per coin.
The company used the funds generated from selling 1.47 million shares of MSTR stock, which accounted for $246.2 million in net proceeds. Of this amount, $142.7 million was allocated to purchasing Bitcoin, while the remaining $103.5 million was used for repurchasing STRC preferred shares.
MicroStrategy also deployed an additional $48.1 million in cash for STRC repurchases, bringing the total spent on STRC buybacks to $151.7 million.