MicroStrategy Snaps Up Another 1,665 Bitcoins, Total Holdings Now Top 847,666
MicroStrategy continues to buy up large amounts of Bitcoin, recently purchasing 1,665 additional coins for $142.7 million at an average price of $85,681 each.
This acquisition brings MicroStrategy's total holdings to 847,666 Bitcoin, acquired for a staggering $63.95 billion. The company has been using hundreds of millions of dollars to repurchase shares and preferred stock while still maintaining roughly $5.0 billion in USD reserves and around $1.0 billion in cash.
The stock price has responded positively to the news, with MSTR shares rising 2.89% after a major strategic partnership announcement boosted investor confidence. The company's aggressive Bitcoin-buying strategy has made it one of the purest public-market plays on Bitcoin, with traders treating it like a high-beta Bitcoin proxy rather than a traditional software stock.