MicroStrategy Inc. MSTR, -3.04 percent said Tuesday that it spent $177 million between July 1 and August 23 to buy 3,907 Bitcoins at an average price of $45,294 per Bitcoin. MicroStrategy’s shares declined 0.5 percent in premarket trading early Tuesday, while Bitcoin fell 0.3 percent. According to FactSet, Bitcoin increased 47.4 percent from July 1 to August 23. The business software company, which is considered as a Bitcoin play because it has acknowledged it uses Bitcoin as a key treasury reserve asset, possessed 108,992 Bitcoin as of Aug. 23, which it purchased for $2.92 billion, including fees and expenses, at an average price of $26,769 per Bitcoin.MicroStrategy’s stock has risen 84.9 percent year to date through Monday, compared to 70.1 percent for Bitcoin, 12.2 percent for the SPDR S&P Software & Services ETF XSW, 0.93 percent, and 19.3 percent for the S&P 500 SPX, 0.13 percent.
