Key insights
- MicroStrategy stock fell 4% to $124.23 on Nov. 9.
- Strategy acquired 1,036 BTC for $81.9 million and repurchased 1.89 million STRC shares.
- Strategy reported holdings of 850,364 BTC, a $4.77 billion reserve, and additional cash.
MicroStrategy stock fell on Nov. 9, with MSTR trading at $124.23 after Strategy reported an $81.9 million Bitcoin purchase.
The company acquired 1,036 BTC during the week ending Nov. 8, paying an average of $79,012 per Bitcoin.
Strategy also repurchased 1.89 million STRC preferred shares for $188.3 million.
MSTR Stock Price Trades Below Previous Close
MicroStrategy stock fell $4.70, or 4%, from the previous close of $128.93. At 9:31 a.m. ET, early MicroStrategy stock trading placed shares between approximately $124 and $125.50. That MSTR stock price range remained below the prior closing valuation.
The one-day chart captured the session’s opening minutes. It showed MSTR stock price near the lower end of its displayed range. The $124 level marked the bottom of the early price movement, while $128.93 represented the previous close.
Strategy Reports Bitcoin Purchase and STRC Repurchase
Strategy’s latest Bitcoin purchase covered the week of Nov. 2 through Nov. 8. The company paid an average of $79,012 per coin, spending $81.9 million in total. The purchase followed an earlier weekly acquisition disclosed in a Nov. 2 filing.
A Nov. 2 report by The Coin Republic, citing Strategy’s SEC filing, said the company bought 811 BTC between Oct. 26 and Nov. 1. That purchase cost $65.5 million. The two disclosures cover consecutive weekly periods.
Alongside the Bitcoin purchase, Strategy repurchased 1.89 million shares of STRC preferred stock for $188.3 million. The company also raised $283.8 million by selling MSTR common stock during the week. These figures cover two separate share transactions: common stock sales and preferred stock repurchases.
Strategy’s third-quarter filing says the company used proceeds from sales of STRC, STRK, and MicroStrategy stock to fund Bitcoin purchases earlier this year. The Coin Republic’s Oct. 30 report cited that filing.
Strategy’s Bitcoin Holdings and Funding Details
After the latest purchase and MicroStrategy stock falling, Strategy held 850,364 BTC. The company acquired those holdings for a total of $64.16 billion, at an average cost of $75,456 per Bitcoin. Strategy also reported $4.77 billion in USD reserves and $146.2 million in additional USD cash.
Executive chairman Michael Saylor shared Strategy’s Bitcoin tracker on X on Sunday. His caption referred to connecting the dots, but the post did not confirm another purchase.
It raised expectations of a new acquisition because similar tracker posts had preceded Strategy’s weekly Form 8-K purchase disclosures.
The latest company purchase also came during a week when other firms changed their Bitcoin positions. Six companies added BTC, while two reduced their holdings. Together, their reported positions produced net additions of 11,647 BTC, valued at $869.12 million.
Apart from MicroStrategy stock, Bitcoin traded at $74,550.35, down 1.8% over 24 hours. Its displayed range ran from $73,709.11 to $76,007.43.
Bitcoin fell sharply around the start of Nov. 9, then moved through a volatile rebound. It briefly rose above $75,000 several times before slipping below that level again.
This article provides financial information, not investment advice. Stocks and cryptocurrencies carry market and liquidity risks. Readers should conduct independent research and consult qualified financial professionals before making investment decisions.
