Bitcoin

Million

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<p>MicroStrategy, a major player in the business intelligence sphere, <a href="https://twitter.com/saylor/status/1706278284651077714">has significantly increased</a> its stake in Bitcoin, acquiring an additional 5,445 BTC.&nbsp;</p>
<p>This move comes as part of the company's continuing strategy to invest in the leading cryptocurrency, affirming its strong belief in the digital asset's potential value.&nbsp;</p>
<p>MicroStrategy purchased the additional coins for approximately $147.3 million, with an average price of $27,053 per Bitcoin, inclusive of fees and expenses, as disclosed in <a href="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k_9-25-2023.pdf">a recent SEC filing</a>.</p>
<h2 id="4-68-billion-bitcoin-stash">$4.68 billion Bitcoin stash&nbsp;</h2>
<p><a href="https://u.today/microstrategy-buys-12333-bitcoin-local-top-for-btc-price">MicroStrategy</a> and its subsidiaries accumulated the additional Bitcoin between Aug. 1 and Sept. 24, bringing their total holdings to an impressive 158,245 BTC.&nbsp;</p>
<p>These were acquired at an aggregate purchase price of approximately $4.68 billion, with an average price of $29,582 per Bitcoin. MicroStrategy continues to hold more Bitcoin than any other public company in the world.&nbsp;</p>
<h2 id="saylor-s-unwavering-faith">Saylor's unwavering faith &nbsp;</h2>
<p>Former CEO <a href="https://u.today/michael-saylor-shares-important-bitcoin-btc-indicator">Michael Saylor</a>, who stepped down a year ago but still holds significant sway as the executive chairman, has long been a proponent of Bitcoin, with his cryptocurrency ventures gaining widespread attention.&nbsp;</p>
<p>There have been periods of critical scrutiny, particularly when the <a href="https://u.today/weekend-bitcoin-volatility-hits-shockingly-low-levels">Bitcoin</a> bubble burst, and questions arose about the ramifications for MicroStrategy given its substantial investments funded by debt.&nbsp;</p>
<p>Moreover, impairment losses due to accounting rule applications have cast shadows over the company's financial optics.</p>

MicroStrategy Buys Another $147 Million Worth of Bitcoin

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