MicroStrategy acquired just 520 Bitcoin for about $35 million last week, its smallest weekly haul since late 2022. The company raised $335 million via a common stock offering to boost its USD reserve by $300 million to $1.4 billion as STRC preferred shares traded below par, constraining its financing engine.
MicroStrategy acquired 520 Bitcoin last week at an average price of $67,068 per coin, spending roughly $35 million. This was two-thirds fewer BTC than the previous week and its smallest weekly haul since late 2022.
The company raised $335.5 million through its at-the-market common stock program, allocating $300 million to its USD reserve and lifting total liquidity to $1.4 billion. These reserves support dividends on its preferred shares and interest on its debt.
STRC preferred shares have traded below their $100 par value, falling as low as $82.53, which prevents new issuance while under par. This constraint impairs its low-cost financing mechanism that underpins further Bitcoin purchases.
Reliance on dilutive common stock sales may weigh on ordinary share performance, while sustained low STRC prices could hinder future Bitcoin accumulation. Investors will watch if reserves rise toward $2 billion or if STRC returns above par to resume cheaper financing.
