MicroStrategy announced on January 20 it purchased an additional 22,305 bitcoins. The acquisition cost approximately $2.13 billion in cash.
The company funded the purchase using proceeds from its at-the-market equity offering programs. A regulatory filing noted the acquisitions occurred between January 12 and January 19. The average purchase price was about $95,284 per bitcoin. This purchase raises the company's total holdings to 709,715 BTC.
MicroStrategy continues executing its bitcoin accumulation strategy. Despite this, MSTR stock fell on the day of the announcement. Shares slid about 6.6%. The decline was largely attributed to the broader cryptocurrency market decline, as Bitcoin's price also fell. The market reaction underscores the stock’s high correlation to Bitcoin price movements.