MicroStrategy (MSTR) Increases Its Bitcoin (BTC) Holdings to 478,740 BTC

The Tysons Corner, Virginia company formerly known as MicroStrategy bought 7,633 BTC in the week ended Feb. 9

Tysons Corner, Virginia-based business intelligence company Strategy (MSTR) increased its bitcoin (BTC) holdings last week by purchasing $742.4 million worth of the largest cryptocurrency, continuing its bitcoin accumulation strategy.

The company, formerly known as MicroStrategy, purchased 7,633 BTC in the week ended Feb. 9, Executive Chairman Michael Saylor posted on X. The average purchase price was $97,255 per bitcoin, which raised the overall average purchase price to $65,033.

According to the 8-K filing, the bitcoin purchases were made using proceeds from the sale of shares under the sales agreement and the perpetual preferred equity offering of Strike (STRK).

The company didn't buy any bitcoin in the week ended Feb. 2, most likely because it was observing a blackout period during its earnings week. On Feb. 6, the company reported a fourth-quarter net loss of $3.03 per share, compared with income of $0.50 per share a year earlier.

However, Strategy (MSTR) stock price rose by 166% year-to-date as of Monday morning after the company announced the bitcoin purchase. The stock closed at $263.46 on Monday, up from the opening price of $257.96.

The company's bitcoin holdings are now valued at around $47.8 billion, based on the current BTC price of $61,972.

Strategy (MSTR) began accumulating bitcoin in August 2020, and it has since become the largest corporate holder of the cryptocurrency. The company's bitcoin holdings are a key part of its overall treasury strategy, which aims to generate long-term value for shareholders.

Saylor teased the purchase announcement once again on Sunday, as he has for the past few months. "Death to the blue lines. Long live the green dots," he posted on Twitter.