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 <p><strong>In a decisive move that solidifies MicroStrategy’s unwavering commitment to Bitcoin, the software company, under the leadership of CEO Michael Saylor, recently expanded its cryptocurrency portfolio by purchasing an <a rel="dofollow" title="additional" href="https://thebittimes.com/tag/additional.html">additional</a> 5,445 Bitcoins for a substantial sum of $147.3 million. This acquisition, executed on September 24, 2023, exemplifies MicroStrategy’s position as one of the most prominent institutional investors in the digital currency realm. The average price per Bitcoin in this transaction was approximately $27,053, adding to the company’s already substantial Bitcoin holdings.</strong></p> 
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    <p lang="en" dir="ltr">MicroStrategy has acquired an <a rel="dofollow" title="additional" href="https://thebittimes.com/tag/additional.html">additional</a> 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv</p>— Michael Saylor️ (@saylor) September 25, 2023
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 <p>MicroStrategy’s journey into the realm of cryptocurrencies commenced in August 2020 when the company first ventured into Bitcoin investments. Since then, it has remained steadfast in its commitment to accumulating Bitcoin, consistently leveraging its financial resources, including debt, to finance strategic acquisitions. This latest purchase propels the company’s total Bitcoin holdings to a staggering 158,245 BTC, acquired at an average price of around $29,582 per Bitcoin. This remarkable acquisition, totalling approximately $4.68 billion, underscores MicroStrategy’s dedication to Bitcoin as a treasury reserve asset.</p> 
 <p>Michael Saylor, the driving force behind MicroStrategy’s cryptocurrency initiatives, has emerged as a vocal advocate for Bitcoin. He often likens Bitcoin to digital gold, emphasising its role as a strategic asset within the corporate treasury. Saylor’s conviction in Bitcoin’s potential surpasses that of other cryptocurrencies, as he has consistently maintained that altcoins are overvalued and should be divested.</p> 
 <p>This significant purchase comes when Bitcoin’s recognition as a store of value and a potential hedge against economic uncertainty continues to grow. Even amid market fluctuations, MicroStrategy’s continued investment in Bitcoin serves as a beacon for other institutions considering similar moves.</p> 
 <p>MicroStrategy’s latest acquisition was disclosed through a Form 8-K filing with the United States Securities and Exchange Commission. The filing confirmed that the company and its subsidiaries had accumulated 5,445 BTC between August 1 and September 24. As of the latter date, their total Bitcoin holdings stood at approximately 158,245 BTC, with an average purchase price of roughly $29,582 per coin, including fees and expenses.</p> 
 <p>The timing of MicroStrategy’s acquisition coincided with Bitcoin’s sideways trading at approximately $26,000 over the past few weeks, following a brief surge to $28,000 on August 29. At the time of this writing, Bitcoin is valued at $26,081, marking a 1.9% decline over the past 24 hours and a 4% decrease over the past seven days, as reported by CoinGecko.</p> 
 <p>MicroStrategy’s consistent bullish stance on Bitcoin has not gone unnoticed. Before this latest purchase, the company procured 12,333 BTC for $347 million in June 2023, with an average purchase price of $29,668 per Bitcoin. This strategic approach to Bitcoin investments has paid off for MicroStrategy, as evidenced by its first profitable quarter in Q1 2023, followed by another good quarter in early August, with a reported net income of $22.2 million.</p> 
 <p>As the cryptocurrency landscape continues to evolve, Michael Saylor and MicroStrategy remain at the forefront, steadfast in their belief in Bitcoin’s enduring value and utility. With a substantial Bitcoin treasury reserve, MicroStrategy sets a compelling example for other institutions contemplating cryptocurrency strategies.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/microstrategy-keeps-faith-in-bitcoin-purchasing-an-additional-147m-tbt63946.html">https://thebittimes.com/microstrategy-keeps-faith-in-bitcoin-purchasing-an-additional-147m-tbt63946.html</a></p>

MicroStrategy Keeps Faith in Bitcoin, Purchasing an additional $147M

TheBitTimes

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