MicroStrategy Spends $2.01 Billion to Add Bitcoin at Average $80,985

MicroStrategy (Nasdaq: $MSTR) stepped up its Bitcoin (CRYPTO: $BTC) buying over the past week, acquiring $2.01 billion of the cryptocurrency, CoinDesk reported. The company, led by Executive Chairman Michael Saylor, bought 24,869 bitcoins at an average price of $80,985 each. The purchases were made while Bitcoin was trading near multimonth highs. In recent days, Bitcoin has slid to about $77,000 as risk assets, including cryptocurrencies, came under pressure. Following the latest buy, Strategy's total Bitcoin holdings rose to 843,738 coins, representing an aggregate purchase price of $64 billion. A recent regulatory filing shows the company's average cost stands at $75,700 per bitcoin. The company said the week's purchases were almost entirely financed through sales of its high-yield preferred shares (Nasdaq: $STRC). Celer said in a recent interview that he believes the crypto winter that began in October last year has ended and that Bitcoin's worst period is over. MicroStrategy shares are down 57% over the past 12 months and recently traded at $17.42.