MicroStrategy Funds Record-Breaking $75M Bitcoin Buy with Cash Reserve
MicroStrategy, formerly known as MicroStrategy, has made its largest Bitcoin purchase yet, buying 950 BTC for approximately $75.7 million last week.
The company funded this purchase from its USD Cash reserve, which stood at $1.05 billion as of September 20th.
This marks a change in how the company is funding its purchases, as it typically relies on new share issuance to raise cash.
With this latest purchase, MicroStrategy now holds 846,000 BTC, its highest reported total since June.