Key Takeaways
- MicroStrategy purchased 10,107 bitcoin for astir $1.1 cardinal complete nan past week.
- The publicly-traded bitcoin treasury institution now holds 471,107 bitcoin purchased, worthy astir $47 cardinal astatine existent prices.
- MicroStrategy shareholders voted past week to summation its number of Class A communal shares to 10.3 billion.
- Separately, MicroStrategy besides plans to connection 2,500,000 successful caller shares of MicroStrategy’s Series A Perpetual Strike Preferred Stock for nan intent of buying much bitcoin.
MicroStrategy (MSTR) has shown nary signs of slowing down their bitcoin purchases and bought different cardinal dollars worthy of bitcoin (BTCUSD) past week.
The institution continued to flex its bitcoin treasury musculus pinch a acquisition of 10,107 bitcoin for astir $1.1 cardinal complete nan past week. This latest acquisition brings nan firm’s full holdings to 471,107 bitcoin.
MicroStrategy has been utilizing equity income and indebtedness issuance to money its bitcoin purchases, pinch this being nan twelfth week successful a row specified a acquisition was announced. The institution issued astir 2,76 cardinal shares to finance past week's purchases.
This latest move besides coincides pinch shareholder support to summation nan authorized number of Class A communal shares to 10.3 cardinal and shares of preferred banal to 1 billion. Additionally, nan institution announced an offering of 2,500,000 shares of MicroStrategy’s Series A Perpetual Strike Preferred Stock connected Monday.
While MicroStrategy’s attack to bitcoin arsenic a treasury plus has inspired different publicly-traded companies, specified arsenic Marathon Digital (MARA) and Semler Scientific (SMLR), to do nan same, it has besides invited scrutiny regarding its debt-heavy strategy to get arsenic overmuch of nan plus arsenic possible.
MicroStrategy stock, often considered a bitcoin proxy, was down 4% successful caller trading and bitcoin slid beneath $100,000 amid a broader sell-off successful crypto and equity markets.