MicroStrategy Doubles Down on Bitcoin: Acquires $150M in Latest Purchase
Even during this period of economic uncertainty, business intelligence giant MicroStrategy continues accumulating Bitcoin.
As of March 23, Microstrategy has acquired an additional 6,455 BTC for ~$150M at an average of $23,238 per coin. The company now holds 138,955 BTC acquired for $4.14 billion at an average of $29,817 per BTC.
According to an 8-K filing with the United States Securities and Exchange Commission (SEC), MicroStrategy also repaid its $205M Silvergate loan at a 22% discount.
As for the company’s BTC stash, the holdings are valued at approximately $3.88 billion, with the present Bitcoin value.
Since MicroStrategy has been a prominent player in the Bitcoin market, its latest purchase demonstrates the company’s continued confidence in the digital currency.
Some investors may see this move as a bullish signal for Bitcoin, as MicroStrategy’s actions may indicate that they believe the asset will continue to appreciate in value. However, it’s important to remember that Bitcoin’s value can be volatile, and investing in any asset carries risk.
READ MORE: Bitcoin (BTC) Enters New Bullish Chapter, Analyst Says
At the time of writing, BTC is trading at $27,671 with a total market cap of over $536.6 million.
MicroStrategy’s share price has risen approximately 80% since the beginning of the year. MSTR, is currently valued at $256.67, down almost 50% from 2022’s high of $491, registered in March.
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.
