MSTR: MicroStrategy Jams $2.1 Billion Into More Bitcoin But the Stock Falls 6%

Michael Saylor’s vision to raise $42 billion over the next three years is so far materializing.

• Forget waiting to buy the dip — MicroStrategy’s Michael Saylor is wasting no time and buying straight near the top. The software firm, which has turned into the largest corporate Bitcoin holder, acquired 21,550 Bitcoin last week, as per the company’s announcement on X earlier today. The bill? A hefty $2.1 billion with each coin going for an average price of $98,783. Right now, MicroStrategy MSTR holds a total of 423,650 Bitcoin, acquired for an average price of $60,324 per coin.
• This is the fifth straight Monday in which MicroStrategy announces a new Bitcoin purchase. The company used a combination of equity and fixed-income securities sales to get its corporate hands on more crypto coins and shove them in its treasury. In total, MicroStrategy has invested $25 billion in the volatile and risky asset. So far the bet is panning out nicely — that investment is now worth $41 billion and Saylor has no intentions of slowing down.
• Back in October, the Bitcoin maxi made public his plans to raise $42 billion over a three-year time span and jam all that cash into … more Bitcoin. The money is expected to arrive from the sale of shares and convertible debt offerings. In other words, Saylor is betting his company and all it has to hoard as many coins as possible. At the end of the day, there are only 21 million of it, so why not own as much as possible? The mania is also reflected in MicroStrategy’s share price with a 450% surge this year. The stock fell 6% on the news.