MicroStrategy Buys more Bitcoin: Now holds 174,530 BTC
Microstrategy boosts Bitcoin holdings by over 10%, buying 16,130 BTC for $593.3 Million, while planning a $750M stock sale.
Microstrategy (MSTR), a major Bitcoin holder, bought more bitcoins in November, increasing their total to 174,530 BTC. They spent about $593.3 million on 16,130 BTC, averaging $36,785 per coin. This purchase pushed their average cost per Bitcoin to about $30,252.
This November purchase shows Microstrategy's growing interest in Bitcoin, as they had 158,400 BTC by the end of October. They've now increased their holdings by over 10% in just a month.
Alongside their Bitcoin investments, MicroStrategy plans to sell up to $750 million in common stock. Following this news, their shares dropped slightly to $502.96 on the Nasdaq.
