Core Insights - The company made its largest Bitcoin purchase in over five months, acquiring approximately 13,600 Bitcoin worth over $1.2 billion [1] - The total Bitcoin holdings of the company now stand at 687,400, valued at over $62.8 billion, with Bitcoin priced around $91,415 [1] - The average purchase price for Bitcoin by the company is now $75,300, with total expenditure on Bitcoin reaching $51.8 billion [5] Financing Details - The recent Bitcoin purchase was primarily financed through the issuance of 6.8 million shares, raising $1.1 billion [2] - Additionally, the company issued $119 million in STRC preferred stock, marketed as a high-yield alternative for risk-averse investors [2] Market Reactions - Following the latest purchase, the company's shares opened at approximately $157, reflecting a 5.7% decline from the previous closing price [4] - Despite initial fears regarding the Federal Reserve's independence, the shares rebounded to around $159, indicating a 1% increase on the day [4] MSCI Decision Impact - Investors expressed relief as MSCI decided not to exclude cryptocurrency-focused companies from its indices, preserving index eligibility for digital-asset firms [6] - Analysts had previously warned that exclusion from MSCI products could lead to significant outflows for the company, but the decision has been viewed positively [6] - The company's mNAV stood at 1.03, with expectations of recovery to historic levels for this key metric [6]