MicroStrategy Resumes Consecutive Bitcoin Buys After Three-Month Pause
MicroStrategy has resumed buying Bitcoin in consecutive weeks for the first time since June. The company, led by Michael Saylor, acquired 1,665 BTC on September 28 at an average price of $85,681 per token. This purchase was significantly larger than its previous week's buy of 950 BTC.
The two latest purchases have reversed a three-month stretch of alternating between buying and selling Bitcoin, and Strategy's quarterly accumulation is now in positive territory. Since the beginning of the year, Strategy has added 175,166 BTC to its holdings.
The company funded its latest purchase through its at-the-market common-stock program, which provided $142.7 million in net proceeds. This leaves another $18.84 billion of issuance capacity available for future acquisitions.
Strategy's Bitcoin holdings have reached a new all-time high of 847,666 BTC, acquired for approximately $63.9 billion at an average price of $75,437 per token. The company's net gain is around 10.6%, or $6.75 billion, over its aggregate purchase cost.