MicroStrategy, under the leadership of Executive Chairman Michael Saylor, has expanded its cryptocurrency portfolio with the acquisition of an additional 9,245 bitcoins (BTC) for a substantial $623 million, averaging roughly $67,400 per coin. The funds for this purchase were derived from $592.3 million raised through the company's recent convertible debt offering and an additional $30.7 million cash reserve.

With this significant acquisition, MicroStrategy now holds a remarkable 214,246 BTC, valued at approximately $13.5 billion based on current market rates. This represents over 1% of the total 21 million bitcoins that will ever be in circulation. Overall, MicroStrategy has invested around $7.53 billion to secure its BTC holdings, averaging $35,160 per coin, as outlined in the report released on Tuesday.

However, there have been some adverse financial repercussions associated with the transaction. As the value of bitcoin dropped to $63,000 on Tuesday, MicroStrategy's shares (MSTR) also declined by over 10%, leading to a reduction in share value to $1,344 in pre-market trading, marking a steep 25% decrease from last Friday's peak value.