Boost

Bitcoin

Stash

<p>Business intelligence firm MicroStrategy has sent out a bullish signal to the crypto markets by announcing it had purchased an additional $147 million worth of Bitcoin, taking its holdings to 158k BTC.&nbsp;</p> 
<p>The latest purchase of the cryptocurrency is at an average price of $27,053 per coin, which is 9% lower than the average purchase price of its entire BTC stash.&nbsp;</p> 
<h2 id="microstrategy-acquires-more-btc">MicroStrategy Acquires More BTC&nbsp;</h2> 
<p>MicroStrategy (MSTR) has always been bullish on Bitcoin under co-founder and executive chairman Michael Saylor. Now, the company is sending another bullish signal to the markets with its latest purchase of another big stash of BTC. Saylor took to X (formerly Twitter) on the 25th of September to announce that the company had purchased 5445 BTC. Saylor revealed that the coins were purchased for $147.3 million in cash at an average price of $27,053 per BTC. Saylor stated on X.</p> 
<blockquote> 
 <p>“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.”</p> 
</blockquote> 
<p>The company’s regulatory filing revealed some more details about the purchase. The company said in its filing,&nbsp;</p> 
<blockquote> 
 <p>“MicroStrategy, together with its subsidiaries, acquired approximately 5,445 bitcoins for approximately $147.3 million in cash, at an average price of approximately $27,053 per bitcoin, inclusive of fees and expenses.”</p> 
</blockquote> 
<h2 id="microstrategy-s-bitcoin-strategy">MicroStrategy’s Bitcoin Strategy</h2> 
<p>With the latest purchase of BTC, MicroStrategy now holds approximately 158,245 BTC. The coins were acquired at an aggregate price of $4.68 billion, at an average purchase price of $29,582 per bitcoin. The company also added that it had issued and sold 403,362 MSTR shares to fund the latest purchase of Bitcoin. It had also stated back in August that it planned to raise around $750 million through the sale of more stock and use the funds to purchase more Bitcoin.&nbsp;</p> 
<blockquote> 
 <p>“Our goal is to accumulate as much bitcoin as we can on behalf of our shareholders, and we acquired from cash flows, we bought that last tranche for $48.4 million dollars of company cash.”</p> 
</blockquote> 
<p>Saylor had stated in an interview that <a href="https://cryptodaily.co.uk/2023/08/microstrategy-will-buy-as-much-bitcoin-as-possible">MicroStrategy</a> plans to use all the resources at its disposal to keep acquiring Bitcoin moving forward. He also stated that Bitcoin was up 145% from three years ago when MicroStrategy began its Bitcoin strategy.&nbsp;</p> 
<blockquote> 
 <p>“Our strategy is levered long, offer a yield, don’t charge a fee, and then actively manage our position and actively manage acquisitions and financings between equity, debt, and cash flows in order to get the best result for our shareholders.”</p> 
</blockquote> 
<h2 id="will-the-purchase-boost-markets">Will The Purchase Boost Markets?&nbsp;</h2> 
<p>MicroStrategy’s latest purchase of Bitcoin comes at a time when the world’s largest and most popular cryptocurrency is trading sideways. BTC has been hovering around the $26,000 mark for the past few weeks. The coin had briefly touched the $28,000 mark on the 29th of August but slipped to a low of $25,000 on the 11th of September. Currently, Bitcoin is trading at around $26,283, according to data from CoinMarketCap. The crypto is down by around 4% over the past seven days.&nbsp;</p> 
<p><a href="https://cryptodaily.co.uk/2023/08/microstrategy-q2-profits-soar-with-467-btc-purchase">MicroStrategy’s</a> latest purchase reaffirms the company’s bullish stance on crypto. In June 2923, the company had announced the purchase of 12,333 BTC for around $347 million. This put the average purchase price at $29,668 per coin. In Q1 2023, MicroStrategy reported its first profitable quarter since 2020, thanks to a one-time income tax benefit. The company was able to remain profitable in the next quarter as well, registering a profit of $22.2 million in net income.&nbsp;</p> 
<p>Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p>

MicroStrategy Acquires Another Big Stash Of Bitcoin Worth $147M

Table of Contents

Crypto Daily™

Other articles published on Sep 26, 2023

Particle Network Hits 15M Activated Wallets With Wallet-as-a-Service V2

Shido DeFi Card is ready to Launch!

Bitcoin price at risk? US Dollar index confirms bullish 'golden cross'

Celsius 'Takeover' Reorganization Plan Approved By Creditors

Binance to Launch Yen, Dollar and Euro Stablecoins in Japan in 2024!

BNB Price Prediction: BNB Gains 2% – Will Binance Coin Dominate the Month?

Join our free newsletter for daily crypto updates!