In a significant move within the cryptocurrency market, Michael Saylor’s company, MicroStrategy (MSTR), has recently ramped up its Bitcoin acquisition efforts, adding a notable 4,871 BTC to its treasury over the past week. This acquisition was executed at an average price of approximately $67,718 per coin, leading to a total expenditure of around $329.9 million. According to a filing made on Monday, this latest purchase brings MicroStrategy’s total Bitcoin holdings to an impressive 766,970 BTC, which were acquired at a cumulative cost of $58.02 billion. The overall average cost per coin stands at $75,644.
Despite this substantial investment, MicroStrategy’s position is currently experiencing significant unrealized losses, given Bitcoin’s prevailing market price, which is hovering near $69,120. At this price point, the company’s entire Bitcoin portfolio is underwater by roughly 8%, translating to about $5 billion in unrealized losses.
Funding for last week’s Bitcoin purchases primarily came from sales of the company’s preferred stock, specifically totaling $227.3 million. Additionally, another portion of the funding was secured through sales of common stock, amounting to $72 million.
A recent report by CryptoQuant highlighted MicroStrategy’s aggressive accumulation strategy, noting that the company acquired approximately 44,000 BTC over the course of 30 days, ending in late March. This positioning makes MicroStrategy one of the very few institutional channels actively soaking up supply alongside spot exchange-traded funds (ETFs), which collectively purchased about 50,000 BTC during the same timeframe.
With a total holding of 766,970 BTC, MicroStrategy now commands roughly 3.8% of Bitcoin’s total circulating supply, estimated at 20.01 million coins. This impressive figure cements its status as the largest corporate holder of Bitcoin, further emphasizing the company’s commitment to cryptocurrency as a central pillar of its financial strategy.
