Strategy Acquires 4,048 Bitcoin for $450 Million Last Week

MicroStrategy (MSTR) purchased 4,048 bitcoins last week, increasing its total holdings to 636,505 bitcoins. The acquisitions cost nearly $450 million, averaging $110,981 per bitcoin. Funding primarily came from common stock sales, despite previous commitments not to issue shares when the market NAV fell below 2.5x; it currently sits around 1.5x.

Common stock sales have faced controversy due to this promise.
Preferred stock demand remains low, limiting alternatives for funding.
The current value of MSTR's bitcoin holdings is approximately $70 billion at a bitcoin price of $109,400.
MSTR shares are slightly down in premarket trading.