MicroStrategy [NASDAQ: MSTR] Acquire More Bitcoins Whilst Dumping Stock

MicroStrategy Incorporated [NASDAQ: MSTR] has announced the acquisition of more bitcoins at the same time the firm has also disclosed that it has decided to dump more of its stocks. This decision of the firm has a little bit effect on its stock trading as the share of the firm fluctuated 0.39% during the pre-market trading session.

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It has been disclosed that it has purchased 8,957 bitcoin by paying $419.9 million during its fiscal third quarter, from July 1 through Sept. 12. It has purchased the bitcoin at an average price of $46,875 per bitcoin, covering fees and expenses. This indicates that the firm has purchased more than 5,050 bitcoins for nearly $242.9 million, inferring a per-bitcoin price of $48,099 over the past three weeks.

Furthermore, on August 24, 2021, MicroStrategy disclosed that it had purchased 3,907 bitcoins for $177 million from July 1 through Aug. 23. Shares of MSTR have lost -3.35 at the time of writing on Monday. In the past 52-weeks of a trading session, the share of the firm oscillated between the 52-weeks low and high range of $138.84 and $1315.00, respectively. The firm has recorded a total market capitalization of $6.24 billion at the time of writing.

In addition to this, in a separate announcement, the firm revealed that it has dumped a total of 555,179 shares of its stock during the third quarter at an average price of $727.64.  MSTR revealed that it has collected $399.9 million through the sale of its stocks. This sale is a part of its earlier announced plan to dump more than $1.0 billion worth of its stock.