MicroStrategy Acquires Another 27,200 Bitcoin Worth $2 Billion
MicroStrategy Inc. (NASDAQ:MSTR) on Monday announced it has purchased 27,200 Bitcoin (CRYPTO: BTC) for approximately $2.03 billion in cash over a ten-day period between Oct. 31 and Nov. 10, this year.
What Happened:The acquisition was completed at an average price of $74,463 per Bitcoin, inclusive of fees and expenses.
With the new purchase, MicroStrategy now holds a total of 279,420 Bitcoin at an aggregate purchase price of approximately $11.9 billion, averaging $42,692 per Bitcoin.
This latest acquisition was financed through the proceeds from recent stock sales under two agreements with financial institutions, including TD Securities and Barclays, the company stated in a release.
Through these agreements, MicroStrategy raised $2.03 billion by issuing and selling shares, a strategy that executive …
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