MicroStrategy buys another 1,045 Bitcoin for $29.3 million, taking its
total holdings to 140,000 BTC worth over $12.6 billion.
MicroStrategy, an American business intelligence firm, has just announced its latest acquisition of an additional 1,045 Bitcoin
for approximately $29.3 million at an average price of $28,016 per BTC.
This news was announced in a tweet by MicroStrategy executive chairman
Michael Saylor on April 5.
As of April 5, 2023, MicroStrategy holds a total of 140,000 BTC,
which was acquired for approximately $4.17 billion at an average price
of $29,803 per BTC. This news comes as a significant milestone for the
company as it continues to invest in Bitcoin as a reserve asset.
Number 14 on Cointelegraph’s Top 100 in crypto, Saylor
has been an outspoken advocate for Bitcoin and has been leading the
charge for corporations to adopt the largest cryptocurrency as a
strategic asset. Saylor has repeatedly stated that Bitcoin is the
securest and most reliable store of value that exists in the market
today and that it offers a unique opportunity for businesses to protect
their assets from inflation.
Saylor’s MicroStrategy recently
repaid its Silvergate loan and bought 6,500 BTC at the end of March. The
company’s Bitcoin strategy appears to be dollar-cost averaging but with vast amounts of money.
Related: Michael Saylor is still on the hook for alleged tax evasion, says MicroStrategy filing
MicroStrategy
made its first Bitcoin purchase in August 2020, and since then, the
company has been consistently adding to its holdings. The latest
purchase brings the total amount of Bitcoin owned by MicroStrategy to
over $12.6 billion, which is a testament to the company’s confidence in
the long-term potential of the cryptocurrency.
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source link : https://cointelegraph.com/news/microstrategy-adds-another-1-045-bitcoin-to-its-growing-crypto-treasury
