Virginia-based software company MicroStrategy has acquired an additional 17,994 Bitcoin for approximately $1.3 billion. The company disclosed the purchase, which occurred between March 2 and March 8, at an average price of $70,946 per coin.
This acquisition brings MicroStrategy's total Bitcoin holdings to 738,731 BTC, with an aggregate cost of $56 billion and an average purchase price of $75,862.
The funds for the latest purchase were raised through equity sales, including Class A common stock and variable-rate Stretch preferred stock. The company has significant capacity remaining under its at-the-market offering program for future capital raises.
MicroStrategy also amended its sales agreement with underwriters, allowing for greater flexibility in large-volume transactions during pre-market and after-hours trading.