MicroStrategy Purchases An Additional 1,045 Bitcoin For $29.3 Million

Key Points:

• MicroStrategy has purchased an additional 1,045 bitcoins for $29.3 million in cash, bringing their total holdings to 140,000.
• The average price of the newly acquired bitcoins was $28,016 per bitcoin, which is lower than their existing holdings’ average purchase price.
• The firm’s total investment in Bitcoin is now valued at approximately $4.17 billion, with CEO Michael Saylor vocal advocating Bitcoin as a store of value.

MicroStrategy announced buying an additional 1,045 bitcoins for $29.3M at an average price of $28,016 per bitcoin. They now hold 140,000 BTC worth $4.17B.

On April 5, 2023, MicroStrategy announced that it had purchased an additional 1,045 bitcoins for approximately $29.3 million in cash between March 24, 2023, and April 4, 2023. This move is in line with the company’s strategy of investing in Bitcoin as a store of value and brings its total holdings of Bitcoin to approximately 140,000.

The average price of the newly acquired bitcoins was approximately $28,016 per bitcoin, inclusive of fees and expenses. This price is significantly lower than the average purchase price of MicroStrategy’s existing Bitcoin holdings, which was approximately $29,803 per Bitcoin, inclusive of fees and expenses. This indicates that MicroStrategy took advantage of a dip in Bitcoin prices to make this purchase.

According to Michael Saylor, MicroStrategy’s total investment in Bitcoin is now valued at approximately $4.17 billion based on Bitcoin’s average price of around $29,803. This is a significant investment in cryptocurrency, which has been gaining popularity as a store of value among institutional investors.

MicroStrategy’s CEO, Michael Saylor, has been a vocal advocate of Bitcoin, promoting its use as a store of value and an alternative to traditional fiat currencies. The company’s decision to invest heavily in Bitcoin has been seen as a bold move, given the cryptocurrency market’s volatility.

MicroStrategy had previously paid off a $205 million Bitcoin-backed loan early and accumulated more, adding 6,455 Bitcoins to its stash in February-March 2023.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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