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MicroStrategy, a prominent business intelligence firm, made headlines on Wednesday, June 28, announcing a massive Bitcoin acquisition. The company revealed that it had purchased over 12,000 Bitcoins worth $350 million, solidifying its position as the most significant corporate holder of the cryptocurrency. This recent purchase has propelled MicroStrategy’s Treasury value to an impressive $4.5 billion, with a total of 152,333 Bitcoins securely held. 
According to the filing submitted to the US Securities and Exchange Commission, MicroStrategy acquired 12,333 bitcoins between April 29 and June 27, marking the largest one-time purchase by the company to date. Their holdings’ average price per Bitcoin is $29,668, reflecting their strategic approach to accumulating this digital asset. As a business intelligence, mobile software, and cloud-based services specialist, MicroStrategy currently possesses more Bitcoin than any publicly traded company. 
MicroStrategy’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin since the company’s initial Bitcoin purchases in August 2020. Even during the challenging crypto winter in 2022, MicroStrategy demonstrated unwavering conviction in its holdings. Saylor recently took to Twitter to share the news, stating, “MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin.” 
Having initially purchased Bitcoin when trading under $12,000, Saylor and his company have maintained a consistent buying strategy, acquiring more at various price levels. Saylor emphasized the company’s commitment to retaining its Bitcoin holdings, stating, “The key for us is to be consistent, transparent and responsible in pursuing that strategy.” 
MicroStrategy’s steadfast approach to holding Bitcoin has solidified its position in the cryptocurrency market and resulted in a significant surge in its stock price. Since the beginning of the year, MSTR stock has soared by an astonishing 125%, reflecting investors’ confidence in MicroStrategy’s Bitcoin-focused strategy. 
Interestingly, MicroStrategy’s recent Bitcoin purchase did not heavily impact the cryptocurrency’s price, which has remained relatively stable at just above $30,000. In addition to its Bitcoin acquisitions, MicroStrategy is actively developing an “enterprise Lightning solution,” as announced by Saylor. This solution is centered around the Bitcoin Lightning Network, a Layer-2 scalability platform for the Bitcoin blockchain. The Lightning Network aims to alleviate congestion on the Bitcoin mainnet by facilitating quick and cost-effective transactions. Saylor holds a bullish outlook on the Lightning Network, believing it has the potential to surpass payment giants like Visa. 
MicroStrategy’s latest Bitcoin acquisition further solidifies its position as a significant player in the cryptocurrency space. With its sizable Treasury value and continued commitment to holding Bitcoin, the company is poised to confidently navigate the evolving digital landscape, attracting investors and enthusiasts alike. 
The post <a rel="nofollow" href="https://bitcoinworld.co.in/microstrategy-makes-350-million-bitcoin-purchase-surpasses-4-5-billion-treasury-value/">MicroStrategy Makes $350 Million Bitcoin Purchase, Surpasses $4.5 Billion Treasury Value.</a> appeared first on <a rel="nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

MicroStrategy Makes $350 Million Bitcoin Purchase, Surpasses $4.5 Billion Treasury Value.

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