MicroStrategy Purchases 5,445 Bitcoin with Stock Sales: Total Holding Reaches 158,245 BTC
MicroStrategy, the co-founded by Michael Saylor, has acquired 5,445 Bitcoin (BTC) with stock sales, bringing their total holdings to 158,245 BTC. Read more about this major investment in Bitcoin and its potential implications.
Posted 10 months ago in Bitcoin
MicroStrategy, the co-founded by Michael Saylor, has recently announced that the firm has acquired 5,445 Bitcoin (BTC) with an average price of $27,053. This purchase was made between Aug. 1 and Sept. 24 and amounted to $147.3 million. The funding for this investment came from the sale of the company's own stocks. With this latest purchase, MicroStrategy now holds a substantial 158,245 BTC, after investing a total of $4.68 billion in the cryptocurrency over the course of three years.
MicroStrategy's strategy of Dollar Cost Averaging (DCA) allows them to continuously accumulate Bitcoin, regardless of market conditions. Despite the recent market volatility, the firm remains confident that the Bitcoin halving event, which is less than a year away, will initiate a new bull run in the crypto market. Michael Saylor, the CEO of MicroStrategy, is optimistic about the future prospects of Bitcoin and is often considered one of the industry's visionaries.
Last updated 9/25/2023, 8:58:35 PM
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