MicroStrategy buys 1,587 BTC, holdings reach 846,800
MicroStrategy purchased 1,587 bitcoin for about $100 million, raising its corporate holdings to 846,800 BTC under CEO Michael Saylor’s treasury accumulation program.
MicroStrategy purchased 1,587 bitcoin for roughly $100 million in its latest acquisition, bringing total corporate holdings to about 846,800 BTC. The company reported an average purchase price of approximately $63,000 per bitcoin.
The bitcoin purchases are part of a program that began in 2020 under CEO Michael Saylor to hold bitcoin in the corporate treasury. MicroStrategy has made periodic purchases and informs investors of transactions and aggregate holdings through securities filings and investor communications.
The company has funded acquisitions through cash on hand, debt financings and equity offerings. MicroStrategy discloses individual transactions and cumulative balances so investors can track changes to the company’s exposure to bitcoin.
Under U.S. accounting rules, MicroStrategy classifies bitcoin as an intangible asset and applies impairment testing. That accounting treatment affects how gains and losses are recognized in financial statements when bitcoin prices change.
Market participants follow the company’s transactions because the purchases are large compared with typical corporate treasury allocations. MicroStrategy reports that it holds bitcoin as a primary treasury reserve asset and maintains a long-term holding approach rather than short-term trading.
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