Main page » Crypto News » MicroStrategy Took its Bitcoin Holdings to 140K With Another Purchase
Crypto News

MicroStrategy Took its Bitcoin Holdings to 140K With Another Purchase

MicroStrategy Took its Bitcoin Holdings to 140K With Another Purchase

MicroStrategy, the business intelligence firm founded by Michael Saylor and the largest corporate holder of bitcoin, recently acquired $29.3 million worth of the cryptocurrency, which helped the company reach a total of 140,000 BTC in its stash.

  • Despite keeping quiet during a period when bitcoin’s price was struggling below $20,000, the company began accumulating the cryptocurrency in March when it purchased an additional 6,500 BTC, while also repaying a $205 million loan from the now-struggling Silvergate Bank.
  • MicroStrategy’s former CEO, Michael Saylor, announced the latest purchase on April 5, revealing that the company bought 1,045 bitcoin for $29.3 million at an average price of $28,016. Although this acquisition is not the company’s biggest single purchase, it helped MicroStrategy reach a total of 140,000 BTC.
  • Last year in August, MicroStrategy began accumulating BTC and has since spent almost $4.2 billion for its total of 140,000 BTC, at an average price of $29,803 per bitcoin.
  • It is worth noting that the company’s position was deeply underwater just a few months ago when bitcoin’s price had fallen significantly below $20,000. However, MicroStrategy is now almost at break-even.