MicroStrategy (MSTR) has expanded its Bitcoin portfolio by acquiring an additional 11,931 coins for $786 million, at an average cost of $65,883 per Bitcoin, the company's official filing with the Securities and Exchange Commission (SEC) revealed on Thursday.
Michael Saylor, founder and CEO of MicroStrategy, stated that the company invested approximately $8.33 billion to acquire a total of 226,331 BTC, at an average purchase price of $36,798 per BTC.
The company had previously announced its plan to raise $500 million to purchase Bitcoin through the offering of convertible senior notes with a maturity date of 2032.
Shortly after, MicroStrategy increased its fundraising goal by 40% to $700 million, explaining that the capital would be used to purchase additional Bitcoin and to cover various company-wide needs.
MSTR shares rose more than 2% in Thursday's pre-market trading session
