MicroStrategy (MSTR) is doubling down on its Bitcoin strategy despite mounting pressure from a stock price that has collapsed more than 50% over the past six months. The company added 10,624 Bitcoin (BTCUSD) last week for $962.7 million at an average price of $90,615 per coin, bringing total holdings to 660,624 Bitcoin acquired for $49.35 billion.
The purchase marks a return to aggressive buying after several weeks of smaller acquisitions constrained by worsening market conditions. The acquisition was funded primarily through the sale of $928.1 million in common stock, with an additional $34.9 million raised through preferred stock sales.
