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MicroStrategy (NASDAQ:MSTR) made its biggest bitcoin (BTC-USD) purchase since February 2021, buying some 16,130 tokens for $593.3M in November, according to an SEC filing dated Thursday.
The enterprise-software producer co-founded by Michael Saylor, which started buying bitcoin (BTC-USD) in 2020, disclosed that it’s BTC stash swelled to 174,530 BTC at an average price of about $30.2K after the November purchase.
In addition, the company struck a deal with Cowen and Company, Canaccord Genuity and BTIG to offer up to $750M worth of common stock. In August, MSTR said proceeds from such a capital raise would be used for buying more BTC, as well as working capital and repurchasing debt.
MSTR slipped 1.7% in mid-afternoon trading, while bitcoin (BTC-USD) edged up 0.2% to $37.7K.
