MicroStrategy Incorporated (NASDAQ: MSTR), the leading business intelligence software company, has announced that it has added another 1,045 Bitcoins to its already substantial holdings. Between March 24, 2023, and April 4, 2023, the company and its subsidiaries acquired the addi...
MicroStrategy Incorporated (NASDAQ: MSTR), the leading business intelligence software company, has announced that it has added another 1,045 Bitcoins to its already substantial holdings.
Between March 24, 2023, and April 4, 2023, the company and its subsidiaries acquired the additional Bitcoins for approximately $29.3 million in cash, at an average price of $28,016 per Bitcoin. This acquisition includes all related fees and expenses.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv— Michael Saylor(@saylor) April 5, 2023
The announcement comes just weeks after the company’s CEO, Michael Saylor, revealed on Twitter that MicroStrategy and its subsidiaries had already purchased 6,455 BTC for about $150.0 million in cash between February 16, 2023, and March 23, 2023.
MicroStrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, $MSTR acquired an additional ~6,455 bitcoins for ~$150M at an average of ~$23,238 per #bitcoin & held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin. https://t.co/ALp9VLkTpt— Michael Saylor(@saylor) March 27, 2023
With the latest acquisition, the company’s total Bitcoin holdings now stand at an impressive 140,000 BTC.
MicroStrategy’s aggressive Bitcoin investment strategy has been a topic of much discussion within the crypto community. The company has spent approximately $4.17 billion in total to accumulate its 140,000 BTC holdings, resulting in an average purchase price of around $29,803 per Bitcoin, inclusive of fees and expenses.
Saylor, a prominent Bitcoin advocate, has consistently expressed his belief in the digital asset as a long-term store of value and hedge against inflation.
This continued accumulation of Bitcoin by MicroStrategy is expected to further solidify its position as one of the largest corporate holders of the digital asset.
The company’s investment has been closely watched by industry insiders and investors alike, as it demonstrates a growing interest in Bitcoin and cryptocurrencies among traditional businesses.
In light of this latest acquisition, MicroStrategy’s share price could see a short-term boost as investors react to the news.