MicroStrategy (MSTR) sold 1.98 million class A shares from March 17 to March 23 for about $592.6 million.
In the same period, the company purchased 6,911 bitcoins for $584.1 million in cash at an average price of $84,529 apiece. The bitcoin purchase was funded by proceeds from share sales, MicroStrategy said Monday in a regulatory filing.
As of Sunday, MicroStrategy and its subsidiaries held 506,137 bitcoins, acquired at a total cost of $33.7 billion, averaging $66,608 per bitcoin, according to the filing.
Shares of MicroStrategy rose 10% on Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.