MicroStrategy Buys 267 Bitcoin and Increases Credit Buyback

MicroStrategy purchased 267 Bitcoin for 22.1 million dollars between October 12 and October 18, increasing its total holdings to 848,517 BTC. According to a filing with the United States Securities and Exchange Commission, the company funded the acquisition by selling 140,872 shares of its common stock.

In addition to the Bitcoin purchase, the company spent 193.1 million dollars to repurchase 1.94 million shares of its Stretch preferred stock. MicroStrategy also increased its digital credit securities buyback authorization from 2 billion to 3 billion dollars. These actions follow a fourth-quarter trend where the company has spent 459.2 million dollars on preferred stock repurchases, a figure that significantly outpaces the 72.3 million dollars spent on Bitcoin during the same period.

Executive Michael Saylor expressed optimism about the asset's recovery above its 200-day simple moving average. He stated that the market is moving back into a bull market despite headwinds from monetary and trade policies.