MicroStrategy’s Bitcoin Buying Spree Hits Highest Level Since 2021
MicroStrategy is reportedly buying Bitcoin (BTC) at its fastest rate since 2021.
Bloomberg’s latest report reveals that between August 6 and September 12, the software company acquired 18,300 BTC for approximately $1.1 billion. This is the largest acquisition by MicroStrategy since February 2021, when it purchased 19,452 BTC.
Currently, MicroStrategy holds about 244,800 BTC, valued at $14 billion, making up around 1% of Bitcoin’s total supply. The average purchase price for these recent acquisitions was $38,585 per Bitcoin.
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MicroStrategy, led by Bitcoin advocate Michael Saylor, continues to accumulate Bitcoin as a safeguard against inflation.
In related news, South Korea’s National Pension Service, which manages over $764 billion in assets, has significantly increased its holdings in MicroStrategy, acquiring tens of millions of dollars worth of shares since June 30. As a result, the value of its stake has grown to $32.5 million. Bloomberg notes that MicroStrategy’s stock has more than doubled in value this year, surpassing Bitcoin’s 40% price increase over the same period.
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.
