MicroStrategy (MSTR) has strengthened its Bitcoin portfolio with a strategic acquisition of 196 BTC for $22.1 million, announced on Monday. This purchase elevates the company's total Bitcoin reserves to 640,031 BTC. The latest transaction was executed at an average price of $113,048 per Bitcoin, increasing MicroStrategy's cumulative average purchase price to $73,983.
The funding for this acquisition was secured through the issuance of common stock via an at-the-market (ATM) program, complemented by the issuance of perpetual preferred stock.
Following the announcement, MSTR shares saw a 2.5% rise in pre-market trading, aligning with Bitcoin's price movement, which edged up to approximately $112,000.