MicroStrategy Acquires 4,603 BTC for $370 Million

MicroStrategy, led by Michael Saylor, purchased 4,603 Bitcoin at an average price of approximately $80,318. According to an 8-K filing with the SEC, the company now holds 845,050 BTC with a total investment of $63.3 billion. The acquisition was funded by proceeds from common stock sales. Additionally, the company allocated $30 million to cash reserves and spent $151.8 million to repurchase STRC perpetual preferred stock. STRC shares rose 0.44% to $97.33 in pre-market trading.