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.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR
— Michael Saylor⚡️ (@saylor) April 5, 2023
- 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.