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 <p class="is-style-lead">Michael Saylor, founder of MicroStrategy, announced that his company added 5,445 Bitcoin to its massive crypto holdings between Aug. 1 and Sept. 24. </p> 
 <p>MicroStrategy spent $147.3 million on its latest BTC acquisition, according to a form 8-K filing with the U.S. Securities and Exchange Commission (SEC).&nbsp;</p> 
 <p>Following its BTC accumulation between August and September 2023, MicroStrategy now boasts $4.6 billion <a rel="dofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> of crypto’s top token on its <a rel="dofollow" title="balance" href="https://thebittimes.com/tag/balance.html">balance</a> <a rel="dofollow" title="sheet" href="https://thebittimes.com/tag/sheet.html">sheet</a>.&nbsp;</p> 
 <p>MicroStrategy began purchasing BTC in 2020 as former chief executive officer Michael Saylor sought to reduce the company’s cash holdings and hedge against inflation.</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 #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>Since then, Saylor’s company has bought 158,245 BTC in total, acquiring Bitcoin at an average price of $29,582. The firm issued 403,362 MSTR shares to investors in order to finance its latest round of BTC buys as of press time.</p> 
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 <p>Wall Street heavyweights BlackRock and Fidelity count among the top 10 holders of MicroStrategy stock.&nbsp;</p> 
 <p>It’s possible that investing in MSTR shares could serve as an indirect way for U.S. companies to access Bitcoin exposure without actually holding BTC itself amid regulatory unclarity.</p> 
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   Top 10 MicroStrategy shareholders | Source: CNN
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 <p>BlackRock and Fidelity have also filed applications with the SEC toward listing America’s first spot Bitcoin exchange-traded fund (ETF), a financial product that would directly invest in BTC.&nbsp;</p> 
 <p>BlackRock’s filing also seemingly galvanized other issuers to do the same as a deluge of spot Bitcoin ETF bids from companies like Cathie Wood’s Ark Invest, Valkyrie, WisdomTree, and Franklin Templeton swiftly followed.</p> 
 <p>While the SEC has not yet approved any filings, many believe a ruling in Grayscale’s lawsuit against the securities regulator could be the turning point in crypto’s quest for its first spot Bitcoin ETF.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Analysts: chance of SEC approving spot Bitcoin ETF in 2024 is at 95% 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/microstrategy-adds-147m-worth-of-bitcoin-to-balance-sheet-tbt63982.html">https://thebittimes.com/microstrategy-adds-147m-worth-of-bitcoin-to-balance-sheet-tbt63982.html</a></p>

MicroStrategy adds $147m worth of Bitcoin to balance sheet

TheBitTimes

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