Bitcoin

April

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<a href="https://www.microstrategy.com/en/investor-relations/financial-documents/microstrategy-acquires-additional-12333-bitcoins-and-now-holds-152333-btc_6-28-2023">MicroStrategy</a>, the business intelligence firm led by Michael Saylor, made headlines once again with its recent announcement of a substantial Bitcoin purchase. Between April 29, 2023, and June 27, 2023, MicroStrategy and its subsidiaries acquired approximately 12,333 Bitcoin for a whopping $347 million in cash. The average price per BTC stood at approximately $28,136, inclusive of fees and expenses.
<blockquote class="twitter-tweet">
 MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. As of 6/27/23 <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw">@MicroStrategy</a> hodls 152,333 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/joHo1gEnR0">https://t.co/joHo1gEnR0</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1674025857063571456?ref_src=twsrc%5Etfw">June 28, 2023</a>
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This acquisition marks the largest purchase by MicroStrategy this year, surpassing its previous purpose in March and April, which totaled 7,500 BTC worth $179.3 million.
<h2 id="curse-of-microstrategy-or-fud">Curse of Microstrategy or FUD?</h2>
Interestingly, Saylor and MicroStrategy's Bitcoin purchases have been regarded by seasoned market participants as a potential signal of a local top for BTC prices. Notably, on the day of Saylor's penultimate announcement in March, the price of <a href="https://u.today/pro-ripple-lawyer-spots-positive-sign-for-bitcoin-eyes-50000-btc">Bitcoin</a> experienced a 5% drop. Similarly, on April 5, following another purchase by MicroStrategy, Bitcoin's price fell by over 3% during the day.
<img alt="" data-entity-type="file" data-entity-uuid="ddc8f703-e6d9-4f8a-9da5-f6659b795d89" src="https://u.today/sites/default/files/inline-images/BTC_1D_graph_coinmarketcap%20%281%29.jpeg">BTC to USD by <a href="https://coinmarketcap.com/currencies/bitcoin/">CoinMarketCap</a>
Despite these observations, it is important to note that <a href="https://u.today/bitcoin-btc-price-analysis-for-june-27">BTC</a> has demonstrated consistent growth since those instances. In fact, after both purchases, the cryptocurrency experienced subsequent increases of 8% and 11%, respectively.
<a href="https://u.today/michael-saylor-sees-parade-of-positives-for-bitcoin-backers">card</a>
As of now, MicroStrategy, along with its subsidiaries, boasts an impressive aggregate holding of approximately 152,333 Bitcoin. These digital assets were acquired at an aggregate purchase price of around $4.52 billion, with an average purchase price of roughly $29,668 per BTC, inclusive of fees and expenses.

MicroStrategy Buys 12,333 Bitcoin, Local Top for BTC Price?

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