Bitcoin

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<p>MicroStrategy’s executive chairman and co-founder Michael Saylor on Monday said the company has made a fresh purchase of $155 million worth of Bitcoins, increasing MicroStrategy’s BTC holdings to 193,000. This is a significant move by Michael Saylor ahead of <a href="https://coingape.com/halving/bitcoin-halving/" target="_blank" rel="noopener">Bitcoin halving</a> and Bitcoin accumulation by <a href="https://coingape.com/bitcoin-btc-price-flirts-near-51k-amid-233-mln-bitcoin-etf-inflow/" target="_blank" rel="noopener">spot Bitcoin ETFs</a>.</p> 
<h2 id="microstrategy-acquires-3000-bitcoins">MicroStrategy Acquires 3000 Bitcoins</h2> 
<p>According to a new <a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-acquires-additional-3000-bitcoins-and-now-holds-193000-btc_02-26-2024" target="_blank">filing</a> with the U.S. Securities and Exchange Commission on February 26, MicroStrategy Inc. acquired almost 3,000 Bitcoins for approximately $155.4 million in cash. MicroStrategy acquired BTCs at an average price<br> of approximately $51,813 between February 15 and February 25, 2024.</p> 
<p>Michael Saylor said MicroStrategy and its subsidiaries together hold 193,000 BTCs, acquired for nearly $6.09 billion at an average price of $31,544 per Bitcoin.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. As of 2/25/24, <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw">@MicroStrategy</a> now hodls 193,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/micudbYf3P">https://t.co/micudbYf3P</a></p> 
 <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/1762101030336999899?ref_src=twsrc%5Etfw">February 26, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The Bitcoin purchase came from proceeds from the issuance and sale of shares under the sales agreement, as reported on November 30, 2023. MicroStrategy’s last purchase was <a href="https://coingape.com/breaking-microstrategy-buys-615-million-worth-of-bitcoin-50000-btc-price-soon/" target="_blank" rel="noopener">14,620 BTC</a> for approximately $615.7 million on December 27. Michael Saylor remains unfazed by the potential negative impact of Bitcoin ETFs on MSTR, Saylor asserted that <a href="https://coingape.com/bitcoin-spot-etf-launch-to-not-deter-microstrategy-investors-asserts-michael-saylor/" target="_blank" rel="noopener">MicroStrategy stands apart</a>&nbsp;due to its status as an operating company, unlike ETFs that are unleveraged and charge fees.</p> 
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   MicroStrategy entrusts 98% of BTC holdings to <a href="https://coingape.com/microstrategys-bitcoin-strategy-is-to-keep-btc-with-fidelity/" target="_blank" rel="noopener">Fidelity Custody</a>, diversifying with Coinbase Prime for robust asset management and security.
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<p><strong>Read More: <a href="https://coingape.com/microstrategys-twitter-hack-incident-causes-investors-to-lose-440000/" target="_blank" rel="noopener">MicroStrategy’s Twitter Hack Incident Causes Investors to Lose $440,000</a></strong></p> 
<h2 id="mstr-stock-and-btc-price-performance">MSTR Stock and BTC Price Performance</h2> 
<p>MicroStrategy stock (NASDAQ: MSTR) has gained 1.71% in the pre-market hours today, with price trading at $699.2 and likely to rally over $700 again. The Bitcoin rally in 2023 and 2024 led to a substantial increase in MSTR stock price. <a href="https://coingape.com/crypto-stocks/MSTR/" target="_blank" rel="noopener">MSTR price</a> is up 39% in a month and over 160% in a year, the MSTR stock is up by a staggering 316% since the beginning of 2023.</p> 
<p><a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener">BTC price</a> jumped 1% in the last hour, rebounding from a 24-hour low of $50,931. The price currently trading at $51,410. The 24-hour low and high are $50,931 and $51,950, respectively. Furthermore, the trading volume has increased by 10% in the last 24 hours, indicating a rise in interest among traders.</p> 
<p><strong>Also Read: <a href="https://coingape.com/bitcoin-eth-xrp-saw-5-7-bln-inflows-ahead-big-developments/" target="_blank" rel="noopener">Bitcoin, ETH, XRP Saw $5.7 Bln Inflows Ahead Big Developments</a></strong></p> 
<p>The post <a href="https://coingape.com/michael-saylors-microstrategy-buys-155m-in-bitcoin/">Breaking: Michael Saylor’s MicroStrategy Buys $155 Million In Bitcoin</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Breaking: Michael Saylor’s MicroStrategy Buys $155 Million In Bitcoin

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