MicroStrategy Returns to Bitcoin Buying After 10-Week Pause

MicroStrategy has resumed its Bitcoin buying strategy after a 10-week pause. Between August 24 and 30, the company acquired 4,603 BTC for $369.7 million. This purchase was funded through the sale of 4,531,421 Class A shares, which generated $602.8 million in net proceeds.

The allocation included buying back 1,557,177 STRC preferred shares for $151.8 million, covering STRC dividends for $50.7 million, and adding to cash reserves by $30 million. The remaining funds went towards the Bitcoin purchase at an average price of $80,318 per coin.

As a result of this acquisition, MicroStrategy's total BTC holdings now stand at 845,050 coins, acquired for a total of $63.73 billion. The aggregate cost basis is approximately $75,412 per coin, leaving the treasury around 4.9% in profit based on the current market price.

However, it's worth noting that this latest purchase isn't without its drawbacks, as the new allocation is roughly 1.5% underwater, resulting in a loss of about $5.7 million on paper.