MicroStrategy Buys $147M Bitcoin, Now Holds $4.68B Worth

• MicroStrategy adds $147 million worth of Bitcoin to its holdings.
• The firm now holds a total of 158,245 BTC valued at about $4.68 billion.
• This purchase underscores MicroStrategy's bullish stance on Bitcoin's long-term potential.

MicroStrategy continues to solidify its position as a Bitcoin investor. It does this with the recent purchase of 5,445 BTC for approximately $147.3 million in cash. The acquisition took place between August 1 and September 24, with an average price of roughly $27,053 per Bitcoin. This new addition brings MicroStrategy's total Bitcoin holdings to an impressive 158,245 BTC. These have been acquired at an average purchase price of around $29,582 per Bitcoin, including fees and expenses.

This move reaffirms MicroStrategy's confidence in the long-term potential of Bitcoin. It's also worth noting that the company had previously acquired 12,333 BTC for $347 million in June 2023 at an average purchase price of $29,668 per coin.

The software developer funded this latest Bitcoin purchase by issuing and selling a total of 403,362 MSTR shares. Notably, in August, MicroStrategy had signaled its intention to raise up to $750 million by selling more stock, with plans to allocate some of the proceeds to further Bitcoin acquisitions.

This acquisition comes at a time when Bitcoin's price has been relatively stable, hovering around $26,000 after touching $28,000 in late August.

MicroStrategy's continuous investment in Bitcoin aligns with its belief in the cryptocurrency's potential as a long-term store of value. The company's sustained profitability and financial confidence reflect its commitment to this digital asset.

Related articles:

• Grayscale Investments Officially Files for Ethereum Futures ETF
• Citigroup Ventures into Blockchain with Citi Token Services