MicroStrategy Purchased Bitcoin Worth About 800 Million Dollars, Share Prices Increased

MicroStrategy (MSTR) has expanded its Bitcoin portfolio by purchasing an additional 11,931 coins for $786 million, with an average purchase price of $65,883 for each Bitcoin, as stated in the official document the company filed with the Securities and Exchange Board (SEC) on Thursday.

MicroStrategy founder and CEO Michael Saylor stated that the company invested approximately $8.33 billion to raise a total of 226,331 Bitcoins, with the average investment cost per Bitcoin being $36,798.

The move follows the company’s issuance of convertible bonds due in 2032 last week. to BitcoinIt came after the announcement that it had secured 500 million dollars to invest.

MicroStrategy subsequently increased its funding target by 40% to $700 million, stating that the capital would be used to purchase additional Bitcoin and meet a number of general business needs.

The price of MSTR shares rose more than 2% in the market before official trading hours on Thursday.

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