Michael Saylor's MicroStrategy Buys 14,620 Bitcoin For $615 Million

MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 14,620 BTC at a total cost of $615.7 million, Founder & Chairman Michael Saylor announced today. The purchase came as Bitcoin’s price has been experiencing upward momentum, reaching highs of over $42,000.

The company initially entered the Bitcoin market in August 2020, making a significant initial investment of $250 million into BTC. Since then, they have consistently added to their Bitcoin holdings, creating a treasury reserve strategy that has garnered over 189,150 bitcoin worth more than $8.11 billion at the time of writing.

“On December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period between November 30, 2023 and December 26, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 14,620 bitcoins for approximately $615.7 million in cash, at an average price of approximately $42,110 per bitcoin, inclusive of fees and expenses,” MicroStrategy stated. “As of December 26, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 189,150 bitcoins, which were acquired at an aggregate purchase price of approximately $5.895 billion and an average purchase price of approximately $31,168 per bitcoin, inclusive of fees and expenses.”

As the fourth Bitcoin halving quickly approaches and the first spot Bitcoin ETF in the United States may be approved early into the new year, MicroStrategy continues its aggressive bitcoin investment strategy with no signs of slowing down.

Credit: Source link