MSTR: MicroStrategy Plows $615M in Bitcoin to Swell Holdings Value to Over $8B

Bitcoin-hoarding firm now holds 189,150 BTC and thanks to the crypto rally, its shares are up over 360% this year.

• MicroStrategy is so back. After a valuation-shattering 2022, the Bitcoin-hoarding company staged a surprise comeback. On Wednesday, MicroStrategy revealed it had purchased 14,620 Bitcoin at an average price of $42,110, paying a total of $615.7 million in cash.
• The enterprise-software maker is the largest corporate buyer of Bitcoin. Presently, it owns 189,150 Bitcoin, purchased for a total of $5.9 billion. Today, that stack is worth $8.1 billion. But it is not without red flags. Michael Saylor, chairman of the firm and a vocal Bitcoin maximalist, has piled $2.5 billion in company debt to pay for the Bitcoin accumulation.
• Fortunately, the year has been good to Bitcoin and the rising crypto sea has buoyed MicroStrategy. The crypto-friendly firm’s shares MSTR are up 360% this year, following an 11% increase on Wednesday. MicroStrategy is now valued at $9.2 billion.