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<p class="is-style-lead">MicroStrategy has announced the acquisition of an additional 12,333 <a href="https://crypto.news/price/bitcoin/" data-type="URL" data-id="https://crypto.news/price/bitcoin/">bitcoins</a>, investing roughly $347 million, thereby solidifying its position as a significant player in the crypto landscape.</p> 
<p>As per a recent Securities and Exchange Commission (SEC) <a href="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k_6-28-2023.pdf" data-type="URL" data-id="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k_6-28-2023.pdf" target="_blank" rel="noreferrer noopener">filing</a>, MicroStrategy, under the helm of Michael Saylor, has expanded its <a href="https://crypto.news/price/bitcoin/" data-type="URL" data-id="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">bitcoin</a> portfolio with an additional investment of $347 million.</p> 
<p>The purchase, executed between April 29 and June 27, added 12,333 bitcoins to the company’s digital asset inventory, bought at an average rate of approximately $28,136 per coin.</p> 
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   <p lang="en" dir="ltr">MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a>. As of 6/27/23 <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@MicroStrategy</a> hodls 152,333 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$MSTR</a> <a href="https://t.co/joHo1gEnR0" target="_blank">https://t.co/joHo1gEnR0</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1674025857063571456?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 28, 2023</a>
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<p>This significant purchase escalates MicroStrategy’s total holdings to 152,333 BTC. Given the current trading value of bitcoin, hovering around $30,300 per coin, the net worth of the company’s <a href="https://crypto.news/microstrategy-bitcoin-holdings-keep-growing-what-it-means-for-crypto/" data-type="URL" data-id="https://crypto.news/microstrategy-bitcoin-holdings-keep-growing-what-it-means-for-crypto/" target="_blank" rel="noreferrer noopener">digital assets totals</a> nearly $4.6 billion.</p> 
<p>The accumulation of these assets, including fees and expenses, has cost MicroStrategy an estimated $4.52 billion, implying an average acquisition cost of about $29,668 per bitcoin.</p> 
<p>MicroStrategy’s latest venture into the cryptocurrency market occurred two months after its April purchase of 1,045 bitcoins for approximately $23.9 million.</p> 
<p> You might also like: <a href="https://crypto.news/microstrategys-michael-saylor-gives-audacious-forecast-for-bitcoin/"> MicroStrategy’s Michael Saylor gives audacious forecast for bitcoin </a> </p> 
<p>The company’s top executives, including <a href="https://crypto.news/michael-saylor-reiterates-his-stance-on-bitcoin-says-btc-is-inflation-proof/" target="_blank" data-type="URL" data-id="https://crypto.news/michael-saylor-reiterates-his-stance-on-bitcoin-says-btc-is-inflation-proof/" rel="noreferrer noopener">Saylor</a>, remain ardent supporters of bitcoin, the premier and most capitalized cryptocurrency globally. Last month, CEO Phong Le affirmed the firm’s commitment to its bitcoin-focused strategy, given the ongoing maturation of the digital asset sector.</p> 
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<p>Bitcoin has recently experienced an upward price trend, boosted by several applications for spot bitcoin exchange-traded funds (ETFs) in the United States. Notably, asset management titan <a href="https://crypto.news/blackrock-nears-bitcoin-etf-filing-partnering-with-coinbase-custody/" target="_blank" data-type="URL" data-id="https://crypto.news/blackrock-nears-bitcoin-etf-filing-partnering-with-coinbase-custody/" rel="noreferrer noopener">BlackRock</a> has lodged an application, rejuvenating enthusiasm in the cryptocurrency arena.</p> 
<p>Meanwhile, MicroStrategy’s <a href="https://crypto.news/microstrategy-records-461-2m-net-income-in-q1-2023/" target="_blank" data-type="URL" data-id="https://crypto.news/microstrategy-records-461-2m-net-income-in-q1-2023/" rel="noreferrer noopener">first-quarter financial performance</a> this year exhibited robust results. The firm recorded a net income of $461.2 million, a sharp turnaround from a net loss of $130.8 million in the same period the previous year and a net loss of $249.7 million in the final quarter of 2022.</p> 
<p> Read more: <a href="https://crypto.news/microstrategy-btc-exposure-grows-in-uncertain-market/"> MicroStrategy BTC exposure grows in uncertain market </a> </p>

MicroStrategy boosts bitcoin portfolio with additional $347m investment

crypto.news

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