According to a filing with the U.S. Securities and Exchange Commission (SEC), MicroStrategy has acquired an additional 480 BTC for a total of roughly $10 million. This saw it paying roughly $20,817 per token for the cryptocurrency.
With this newest purchase, MicroStrategy now owns 129,699 BTC tokens together with its subsidiaries. The company has spent $3.98 billion to acquire these and has spent roughly $30,664 per Bitcoin on its investment.
After announcing the news this morning, shares of MSTR stock quickly started to tumble. That comes alongside recent volatility for Bitcoin as investors fear another crypto winter could be right around the corner.
Bitcoin has been having a rough time of it over the last several months as its price has continued to fall. That saw BTC slip another 3.8% over the prior 24-hour period as of Wednesday morning. The crypto is also down 44.3% over the last 12 months.
Other macro factors are also likely affecting BTC, and in turn, MSTR stock today. That includes ongoing fears of inflation and a recession, as well as talk that the Federal Reserve might jack up interest rates more than previously expected.
MSTR stock is down 4.4% as of Wednesday morning. The stock is also down 68.1% since the start of the year.
There’s more recent stock market and crypto news investors will want to know about below!
We’ve got all the hottest stock and crypto news that traders need to know about for Wednesday! Among that is what’s happening with Palantir (NYSE:PLTR) and Paychex (NASDAQ:PAYX) shares today, as well as the latest Terra Classic (LUNC-USD) price predictions. You can get up to speed on all of that news at the following links!
More Stock & Crypto News for Wednesday
- Palantir (PLTR) Stock Dips Despite 2 New Projects
- Paychex (PAYX) Stock Slides 5% Despite Earnings Beat
- Terra Classic Price Predictions: Where Will the LUNC Crypto Go After 50% Rally?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.