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 $419.9 million in cash to buy about 8,957 bitcoin, at an average price of $46,875 per bitcoin, including fees and expenses. That suggests the company bought about 5,050 bitcoins for about $242.9 million, implying a per-bitcoin price of $48,099 over the past three weeks, MicroStrategy said on Aug. 24 that it had bought 3,907 bitcoins for $177 million from July 1 through Aug. 23. Bitcoin was recently trading down 3.0% at $44,763, 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 $727.64 to raise $399.9 million, as part of its previously announced plan to sell up to $1.0 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%.