MicroStrategy, a leading software and business intelligence company, has continued its strong commitment to bitcoin by purchasing an additional 155 btc at a total cost of $5.3 million, Founder and President Michael Saylor. Announced today. The purchase came as the price of bitcoin has seen bullish momentum, hitting a recent yearly high of $35,000.
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 158,400 bitcoins worth over $5.4 billion at the time of writing. The company has acquired 6,067 bitcoins since the end of the second quarter for $167 million.
“We further increased our total bitcoin holdings to 158,400 bitcoins, adding 6,067 bitcoins since the end of the second quarter,” said MicroStrategy CFO Andrew Kang. “Our commitment to acquiring and holding bitcoin remains strong, especially against the promising backdrop of potential greater institutional adoption.”
As the fourth bitcoin halving quickly approaches and the approval of the first bitcoin ETF by the SEC appears imminent, MicroStrategy continues its aggressive bitcoin investment strategy with no signs of slowing down.
