MicroStrategy Buys more Bitcoin: Now holds 174,530 BTC

MicroStrategy Buys more Bitcoin: Now holds 174,530 BTC

Investment Bitcoin

By Miles

30 Nov 2023

1 min read

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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.

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