MicroStrategy Spends $330M on 4,871 Bitcoins, Holdings Top 766,970 BTC
MicroStrategy added 4,871 BTC in April at an average price of $67,718 per coin, spending $330 million and raising its treasury to 766,970 bitcoins with a $75,644 cost basis. MicroStrategy shares have fallen 16% this year against a 19% Bitcoin decline, fueling refinancing concerns.
1. April Bitcoin Acquisition
In April, MicroStrategy purchased 4,871 bitcoins for $330 million, paying an average of $67,718 per coin. This brings the company’s total holdings to 766,970 BTC with an overall cost basis of $75,644 per coin.
2. Impact on Financial Position
The share price has dropped 16% year to date, underperforming Bitcoin’s 19% decline, which raises concerns about balance sheet strain. Analysts note that carrying a higher cost basis than market price may pressure liquidity and prompt debt refinancing.
3. Commitment to Ongoing Purchases
Executive Chairman Michael Saylor has reiterated plans to buy Bitcoin quarterly regardless of price fluctuations. The strategy hinges on long-term conviction, with refinancing viewed as a fallback if Bitcoin were to drop significantly further.