Chairman Michael Saylor announced that the company added more Bitcoin (BTC) to its balance sheet. The move marked MicroStrategy’s first major purchase following its small sale in early June.
MicroStrategy treated Bitcoin’s recent decline as a buying opportunity. The company bought 1,550 BTC at an average price of $65,332, increasing its total holdings to 845,256 BTC.
With the latest purchase, the company’s total Bitcoin cost basis reached nearly $64 billion. MicroStrategy also issued $181 million in common stock to fund the purchase and strengthen its cash position, while maintaining its status as the largest public corporate holder of Bitcoin.
