Bitcoin

Momentum

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>From August 1 till September 24, 2023, Microstrategy purchased 5,445 bitcoin for $147.3 Million.&nbsp;</a> </li> 
 <li> <span>2</span> <a>At press time, Bitcoin price was $26,122; it declined 4% over the week.</a> </li> 
 <li> <span>3</span> <a>Microstrategy sold 403,362 MSTR shares to fund the Bitcoin purchase.&nbsp;</a> </li> 
</ul> 
<p>Microstrategy, a renowned software development company, highlighted in its recent regulatory filing that it purchased Bitcoin worth $150 Million between August 1 and September 24, 2023.&nbsp;&nbsp;</p> 
<p>The filing highlights that Microstrategy and its subsidiaries collectively purchased nearly 5,445 Bitcoin for $147.3 Million in cash. Each BTC was purchased at the price of $27,053, inclusive of taxes and charges.&nbsp;</p> 
<p>As of August 1, Microstrategy holds 152,800 Bitcoins. The total purchase price for the Bitcoins was $4.53 Billion, making an average price of around $29,672 per Bitcoin.</p> 
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   <p lang="en" dir="ltr">MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. As of 9/24/23 <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw">@MicroStrategy</a> hodls 158,245 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/GbJtUoQfXv">https://t.co/GbJtUoQfXv</a></p>— Michael Saylor
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1706278284651077714?ref_src=twsrc%5Etfw">September 25, 2023</a>
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<p>Recent data reveals that the company now holds 158,242 Bitcoin (BTC), which were acquired at an average price of $29,582 per Bitcoin.&nbsp;</p> 
<p>As per the company’s statement, it sold 403,362 Microstrategy (MSTR) shares to support the purchase financially.&nbsp;&nbsp;</p> 
<p>Michael J. Saylor, the Chief Executive Officer of Microstrategy, reshared the company’s tweet of its recent regulatory filing or his ‘X’ wall (Twitter).&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-bitcoin-regain-momentum-and-retest-30k-strong"><strong>Will Bitcoin Regain Momentum and Retest $30k?</strong></h2> 
<p>Coinmarketcap data shows that Bitcoin (BTC) lost 4.39% of its trading price in the 7-day time frame, and at press time, it was trading at $26,122, below the 20,50,100 and 200-day exponential moving averages.&nbsp;&nbsp;</p> 
<p>In the past one month, Bitcoin’s dominance has shown significant improvement, and recently, it became the first cryptocurrency to dominate 50% of the entire market.&nbsp;</p> 
<p>As per dozens of market analysts, BTC will surpass its annual target of $30k by the end of this month. Many also believe that the entire crypto market will turn bullish before the 2023 end.</p> 
<h2 class="wp-block-heading" id="strong-is-the-btc-purchase-hurting-the-microstrategy-stock-strong"><strong>Is the BTC Purchase Hurting the Microstrategy Stock?</strong></h2> 
<p>Microstrategy has previously funded its Bitcoin purchase with the sale of MSTR shares. So this is not new.</p> 
<p>At the time of writing, MSTR stock was trading at $322.81, with a monthly decline of $13.24. While it declined over the weekly, monthly, and quarterly time frames, MSTR stock price surged over 121.60% in the YTD time frame and over 63% in a year.</p> 
<p>However, at the time of publication, Microstrategy stock was trading below its annual price target of $448.60. At the same time, it was trading below 20,50,100, and 200-day exponential moving averages.&nbsp;&nbsp;</p> 
<p>In the 52-week time frame, MSTR <a href="https://www.thecoinrepublic.com/2023/08/20/microstrategy-affected-and-lost-millions-in-recent-btc-price-drop/">stock </a>peaked at $475.09, and its lowest traded price was $132.56.</p> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Microstrategy Bought 5,445 Bitcoins Since August for Around $147M

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Thecoinrepublic.com

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