: MicroStrategy buys more bitcoin while it sells more stock #FinanceUSA #StockMarketNEWS Shares of MicroStrategy Inc. were little changed in premarket trading, after the enterprise software company
@stockMarketNEWS 8 Days ago
MicroStrategy buys more bitcoin while it sells more stock #FinanceUSA #StockMarketNEWS
Shares of MicroStrategy Inc. were little changed in premarket trading, after the enterprise software company and bitcoin play disclosed more bitcoin purchases as well as sales of common stock. The company said that during its fiscal third quarter, from July 1 through Sept. 12, it paid 9.9 million in cash to buy about 8,957 bitcoin, at an average price of ,875 per bitcoin, including fees and expenses. That suggests the company bought about 5,050 bitcoins for about 2.9 million, implying a per-bitcoin price of ,099 over the past three weeks, MicroStrategy said on Aug. 24 that it had bought 3,907 bitcoins for 7 million from July 1 through Aug. 23. Bitcoin was recently trading down 3.0% at ,763, according to FactSet. Separately, the company said Monday that it sold a total of 555,179 shares of its stock during the third quarter at an average price of 7.64 to raise 9.9 million, as part of its previously announced plan to sell up to .0 billion worth of its stock. MicroStrategy's stock has rallied 58.4% year to date through Friday, while bitcoin has climbed 54.3% and the S&P 500 has gained 18.7%.