MicroStrategy acquired 2,530 BTC worth $243 million, raising the total Bitcoin holdings to 450,000. MSTR stock falls after BTC price crash.

Shares of MicroStrategy Inc. slumped again on Monday, after the software company and cryptocurrency play disclosed that it resumed bitcoin purchases at prices well above current levels. The company continued to lean on shareholders to fund the purchases, as it used the $243 million raised through the sale of common stock.

MicroStrategy Inc. (NASDAQ: MSTR) has continued to attract significant market attention due to its strategic investments in Bitcoin and its evolving business mo

Key Takeaways Bitcoin briefly dropped below $90,000 early Monday, for the first time since November after a wild week of trading.Concerns around the Federal Reserve pulling back on rate cuts due to recent economic data may have made bitcoin investors nervous.

MicroStrategy, the business intelligence firm known for its aggressive Bitcoin acquisition strategy, has added another 2,530 BTC to its reserves. According to an 8-K filing with the Securities and Exchange Commission on Monday,

The price of bitcoin (BTC-USD) may be slumping on Monday, but Wall Street firm Cantor sees plenty of room for MicroStrategy's (NASDAQ:MSTR) stock to run higher as the business software company continues to stash more bitcoin on its balance sheet.