MicroStrategy Buys Another $100 Million in Bitcoin, Total Holdings Exceed $72 Billion
MicroStrategy (MSTR) has acquired an additional 850 BTC for approximately $100 million, increasing its total holdings to 635,893 BTC, valued at over $72 billion. The purchase averaged $117,344 per BTC. Despite a slight dip in MSTR shares, TD Cowen maintains a "buy" rating with a $620 price target, citing undervaluation relative to Bitcoin and potential S&P 500 inclusion.
MicroStrategy's Bitcoin treasury is now over ten times larger than the next largest corporate holder. The company utilizes multiple stock offerings to fund its aggressive accumulation strategy.