MicroStrategy Inc. (MSTR) disclosed Tuesday that it just spent $10.9 million to buy 229 bitcoins, at an average price of $43,663 per bitcoin, including fees. Bitcoin was recently trading up 2.9% at $45,012, according to FactSet, while MicroStrategy's stock was up 1.3% in premarket trading. The enterprise software and bitcoin play, which has said it uses bitcoin as its primary treasury asset (link), said it now holds 92,079 bitcoins, acquired for $2.25 billion at an average purchase price of $24,450 per bitcoin. MicroStrategy shares have tumbled 47.3% over the past three months through Monday, while bitcoin has dropped 12.8%, the SPDR S&P Software & Services ETF (XSW) has declined 11.4% and the S&P 500 has gained 6.4%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
05-18-21 0822ETCopyright (c) 2021 Dow Jones & Company, Inc.