MicroStrategy Buys More Bitcoin (BTC) as the Cryptocurrency Nears $100K, Stock Dips Premarket

MicroStrategy purchased approximately $20.4 billion in bitcoin over a 12-week period from Nov. 11 to Jan. 27

MicroStrategy (MSTR) purchased about $20.4 billion in bitcoin over a 12-week period, according to SEC filings from the company.

As of Feb. 2, MicroStrategy holds 471,107 bitcoin acquired for about $30.4 billion, at an average of $64,511 a bitcoin, Chairman Michael Saylor said online. The company did not purchase any additional bitcoin for the week ending Feb. 3.

The purchases are part of a larger capital strategy to buy $42 billion in bitcoin over the next three years. MicroStrategy in October filed to raise $21 billion of equity and $21 billion of fixed income securities, called its "21/21 Plan."

The company at the end of January filed to raise about $563.4 million to buy more bitcoin in a perpetual strike preferred stock offering. The company plans to offer 7.3 million shares of 8% perpetual strike preferred stock at a price of $80 per share, which will be issued under the ticker STRK on the Nasdaq on Feb. 5.

The preferred STRK stock will have an 8% cumulative dividend per year, according to the company.

Bitcoin traded around $98,000 early Wednesday after President Trump's tariffs against Mexico and Canada were delayed for at least a month. The 10% tariff against China remains in a place. Bitcoin on Sunday tumbled to around $92,000 after the announcement the Trump tariffs against all three trading partners would take effect on Tuesday. The cryptocurrency traded around $105,000 on Friday.

Digital asset prices have broadly rallied since November in anticipation of a crypto-friendly administration. Trump has already issued a number of crypto-related executive orders, including launching a crypto task force and exploring the creation of a national digital asset stockpile.

Bitcoin on Jan. 20 hit a record high above $109,000 but has swung around its $100,000 level since.

MicroStrategy eased premarket Wednesday, set to decline further from its 21-day and 50-day lines.

MSTR stock hit a record 543 on Nov. 21 but reversed to close down 16.2% on the day in heavy volume. MicroStrategy stock has jumped more than 20% so far this year through Tuesday.

You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison