MicroStrategy Buys 3,000 Bitcoin (BTC) For $155 Million
Business intelligence firm MicroStrategy has purchased an additional 3,000 Bitcoin for approximately $155 million, company former CEO Michael Saylor announced Monday.
The purchase was made at an average price of $51,813 per Bitcoin. Additionally, this latest acquisition brings MicroStrategy’s total Bitcoin holdings to 193,000 BTC, purchased for $5.978 billion at an average price of $31,464.74 per bitcoin.
Key Details:
- MicroStrategy purchased 3,000 additional Bitcoin on February 25, 2024, for ~$155 million.
- The average purchase price was $51,813 per Bitcoin.
- The company now holds 193,000 Bitcoin.
Read more: $56.5M Withdrawn From BitForex Crypto Exchange; Users Blocked
The purchase comes just weeks after MicroStrategy bought 850 BTC on February 6 for $37.2 million, at an average price of $43,764 per Bitcoin.
MicroStrategy Bitcoin holdings stand at $3.8 billion profit
Since first investing in Bitcoin in August 2020, MicroStrategy has steadily accumulated BTC during market dips. In addition, Saylor has been a vocal proponent of using BTC as an inflation hedge and store of value.
Other key facts about MicroStrategy’s bitcoin holdings are:
- Current holdings are valued at over $9.8 billion.
- Unrealized profit stands at 63.86%, or over $3.8 billion.
- 35 separate purchases have been made over the past 3 years.
Saylor has stated the company aims to continue purchasing additional BTC when opportunities arise to keep growing its corporate treasury reserves.
Read more: MicroStrategyās Official X Hacked: Over $440,000 In Crypto Stolen
The latest multi-million dollar acquisition signals that MicroStrategy remains confident in Bitcoin’s long-term value proposition.
With almost 190,000 BTC in its corporate treasury, it is one of the largest institutional holders.
Additionally, the company’s purchase announcement comes after the official X account of MicroStrategy was hacked to promote a scam.
