MicroStrategy Buys the Dip, Adding 6,556 Bitcoin to Its Holdings

The company had purchased another 6,556 Bitcoin at an average price of $84,785 between April 14 and 20, spending around $555 million on the coins.

Key Takeaways:

* Michael Saylor’s Strategy has disclosed the purchase of 6,556 Bitcoin at an average price of $84,785 between April 14 and 20, spending approximately $555 million on the coins.

* The company funded the purchase through the proceeds of its Common ATM equity offering and Series A perpetual convertible preferred stock offering.

* Strategy sold 1.7 million MSTR shares and over 91,200 STRK shares, generating total net proceeds of over $555 million between April 14 and 20, according to a Monday SEC filing.

* As of April 20, Strategy still has over $1.5 billion in MSTR shares and nearly $21 billion in STRK shares available for future issuance and sale.

* Strategy is continuing to increase its Bitcoin holdings after setting a goal to accumulate $42 billion in Bitcoin by the end of 2027, regardless of market conditions.

* The firm now holds 538,200 Bitcoin, valued at around $47 billion at current market prices. At current market prices, the firm’s Bitcoin stash is valued at around $47 billion.

* The new purchase pushes Strategy’s total Bitcoin holdings to over 2.5% of the total BTC supply.

This announcement follows Saylor’s post about Strategy’s portfolio tracker on Sunday, a move that is often viewed as a signal that an acquisition announcement is imminent.

The post read, “The good news is that we’re making progress toward our goal of accumulating $42 billion in Bitcoin by the end of 2027, and we’re doing it in a way that maximizes shareholder value.” He added, “We’re also mindful of the fact that we need to be opportunistic in our buying, and we’re not afraid to go all-in when the time is right.”