Michael Saylor’s MicroStrategy Buy 3,000 More Bitcoins
MicroStrategy, the prominent enterprise software company known for integrating Bitcoin into its corporate strategy, recently acquired an additional batch of approximately 3,000 BTC, amounting to $155.4 million.
This move has augmented the total value of the company’s Bitcoin holdings to approximately $9.88 billion, based on prevailing market rates. The acquisition, executed between Feb. 15 and Feb. 25, was financed with cash, as disclosed in a filing with the US Securities and Exchange Commission on Monday.
MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoin. As of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR https://t.co/micudbYf3P
— Michael Saylor⚡️ (@saylor) February 26, 2024
With this latest purchase, MicroStrategy now possesses approximately 193,000 Bitcoin units.
Michael Saylor, the chairman and co-founder of MicroStrategy, initiated the company’s Bitcoin acquisitions in 2020 as a hedge against inflation and as an alternative to holding traditional cash reserves. In a recent interview on Bloomberg TV, Saylor emphasized the company’s commitment to holding its Bitcoin assets, stating that there is “no reason to sell the winner.”
Since MicroStrategy began accumulating Bitcoin, the cryptocurrency has appreciated by approximately 460%.
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The average price per Bitcoin for the most recent acquisition stood at $51,813, while the average price for the entire holding remains at $31,544, as outlined in the filing.
On Monday, Bitcoin exhibited minimal fluctuations, hovering around $51,379. Earlier this month, the value of MicroStrategy’s Bitcoin holdings briefly surged to $10 billion as the price of Bitcoin reached its highest level in over two years.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
