Bitcoin

April

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<p class="has-drop-cap">Michael Saylor’s business intelligence firm MicroStrategy bought an additional 1,045 bitcoins from March 24 to April 4, according to the new <a aria-label="8-K filing (opens in a new tab)" href="https://www.microstrategy.com/en/investor-relations/financial-documents/microstrategy-acquires-additional-1045-btc-and-now-holds-140000-btc_4-5-2023" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">8-K filing</a> with the Securities and Exchange Commission (SEC). The latest investment brings the company’s total bitcoin holdings to 140,000 BTC, worth more than $4 billion at today’s prices.</p> 
<h3 id="microstrategy-buys-1-045-btc-for-29-3m">MicroStrategy Buys 1,045 BTC for $29.3M </h3> 
<p>MicroStrategy and its subsidiaries added 1,045 bitcoins between March 24, 2023, and April 4, 2023, for roughly $29.3 million in cash, the company’s most recent 8-K filing with the SEC showed. Including fees and expenses, the business intelligence firm paid an average price of around $28,016 per bitcoin for its latest purchase.</p> 
<p>According to the filing, MicroStrategy and its subsidiaries held 140,000 bitcoins as of April 4, bought at an aggregate price of roughly $4.17 billion. The filing showed that the average purchase price for its total holdings is approximately $29,803 per bitcoin, including fees.</p> 
<p>The move comes around two weeks after Michael Saylor’s firm disclosed it <a href="https://tokenist.com/microstrategy-acquired-6455-btc-for-150m-filing/" rel="dofollow" class="deco-link">bought 6,455 bitcoins</a> for $150 million from February 16 to March 23. Furthermore, the company also paid off its loan from the now-defunct Silvergate Bank at a discount of 22%.</p> 
<p>Bitcoin price stood at $28,551 at the time of the writing, up 1.3% in the past 24 hours. The world’s number one crypto token surged more than 27% in the past month, <a href="https://tokenist.com/bitcoin-breaches-26000-after-expected-february-cpi-print/" rel="dofollow" class="deco-link">buoyed by cooling inflation</a> and recent turmoil in the traditional banking sector.</p> 
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<h3 id="microstrategy-close-to-profitable-on-btc-holdings">MicroStrategy Close to Profitable on BTC Holdings</h3> 
<p>MicroStrategy’s latest purchase emphasizes the confidence Michael Saylor and his team have in Bitcoin as they <a href="https://tokenist.com/microstrategy-plans-to-buy-more-bitcoin-despite-197-6m-impairment-in-q4/" rel="dofollow" class="deco-link">relentlessly continue</a> to invest in the cryptocurrency in the face of the <a href="https://www.washingtonpost.com/business/2022/12/18/crypto-winter-ftx-collapse-bitcoin-prices/" target="_blank" aria-label="market downturn (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">market downturn</a>. The company remains the largest corporate holder of Bitcoin in the world.</p> 
<p>MicroStrategy co-founder and former CEO Michael Saylor has been one of the <a aria-label="loudest proponents (opens in a new tab)" href="https://moneywise.com/investing/stocks/bitcoin-100x-better-than-gold-michael-saylor" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">loudest proponents</a> of Bitcoin, consistently stating his convictions that Bitcoin is the most secure and reliable store of value in the market. The company’s current Bitcoin strategy is much like dollar cost averaging (DCA) but with large amounts of cash.</p> 
<p>With the latest purchase, MicroStrategy is close to breaking even and becoming profitable with its BTC investment, with an average purchase price of $29,803 per BTC against the current market rate of $28,573 per BTC. The business intelligence firm first invested in Bitcoin in August 2020 and has not stopped increasing its holdings in the cryptocurrency since.</p> 
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<p><em><strong>Do you think MicroStrategy’s DCA-like strategy with Bitcoin will pay off? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/microstrategy-bought-1045-more-bitcoins-now-holds-140000-btc/">MicroStrategy Bought 1,045 More Bitcoins, Now Holds 140,000 BTC</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

MicroStrategy Bought 1,045 More Bitcoins, Now Holds 140,000 BTC

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