MicroStrategy buys more bitcoin while it sells more stock


Shares of MicroStrategy Inc.
MSTR,
-3.91%

were little changed in premarket trading, after the enterprise software company and bitcoin play disclosed more bitcoin
BTCUSD,
-0.53%

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
SPX,
-0.77%

has gained 18.7%.



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