MicroStrategy, a leading software and business intelligence company, has continued its strong commitment to bitcoin by purchasing an additional 14,620 btc at a total cost of $615.7 million, Founder and President Michael Saylor. Announced today. The purchase came as the price of bitcoin has seen bullish 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 in btc. Since then, they have steadily increased their bitcoin holdings, creating a treasury reserve strategy that has netted over 189,150 bitcoins worth over $8.11 billion at the time of writing.
“On December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period from November 30, 2023 to 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, including fees and expenses,” MicroStrategy fixed. “As of December 26, 2023, MicroStrategy, together with its subsidiaries, held a total 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, including rates and expenses.”
As the fourth bitcoin halving quickly approaches and the first bitcoin spot ETF in the United States may be approved early in the new year, MicroStrategy continues its aggressive bitcoin investment strategy with no signs of slowing down.
