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Microstrategy Bitcoin Acquisition Continues to Be Boosted With 3,000 New Bitcoins

Key Points:

Microstrategy Bitcoin acquisition continues to expand with 3,000 Bitcoins worth $155.4 million between February 15 and 25, 2024.
The company’s holdings to approximately 193,000 Bitcoins valued at around $10 billion.
Co-founder Michael Saylor’s advocacy for Bitcoin reminds the enterprise software firm’s strategic move to invest cash reserves in the cryptocurrency.

The leading enterprise software maker revealed the recent Microstrategy Bitcoin acquisition of 3,000 Bitcoins between February 15 and February 25, 2024.

Microstrategy Bitcoin Acquisition Continues to Be Boosted With 3,000 New Bitcoins 2

MicroStrategy Bitcoin Acquisition Spree: Adds 3,000 BTC to Holdings

The Microstrategy Bitcoin acquisition amounted to approximately $155.4 million in cash, averaging around $51,813 per bitcoin inclusive of fees. These purchases were funded by proceeds from share sales and excess cash.

As of February 25, 2024, the company holds a significant stash of approximately 193,000 Bitcoins, acquired at an aggregate purchase price of about $6.09 billion, with an average purchase price of roughly $31,544 per Bitcoin.

The MicroStrategy Bitcoin acquisition to protect the value of its reserve assets has helped increase the appeal of the company’s shares, which tend to move in tandem with digital assets.

Michael Saylor, the company’s co-founder and a vocal advocate for Bitcoin, led MicroStrategy’s decision to invest its cash reserves into the digital asset, a move made during the COVID-19 crisis. The recent surge in Bitcoin‘s value has significantly bolstered the company’s holdings, now valued at around $10 billion.

Cybersecurity Alert: MicroStrategy Targeted in Fraudulent Airdrop Scam

However, amidst Microstrategy Bitcoin acquisition, MicroStrategy faced a cybersecurity issue. Reports indicate that the company’s official X account was hacked, leading to the dissemination of a fraudulent airdrop link.

This link redirected users to a fake MicroStrategy website, prompting them to connect their wallets and request an MSTR airdrop, posing a potential risk to unsuspecting users.

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.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.