Nine days after publicly traded company Microstrategy purchased 6,455 bitcoins, company CEO Michael Saylor announced the purchase of an additional 1,045 bitcoins. The business intelligence (BI) company now has a total of 140,000 bitcoins, worth $3.97 billion.
Microstrategy buys another batch of bitcoins
Microstrategy has started acquiring bitcoin (BTC) again, after buying 6,455 bitcoins for $150 million on March 27. On April 5, the company’s CEO announced that he had acquired an additional 1,045 bitcoins, bringing the company’s total holdings to 140,000. BTC. The publicly traded company now has the largest bitcoin reserve of any company worldwide, accounting for 0.667% of the 21 million BTC supply cap
“Microstrategy has acquired an additional 1,045 bitcoins for ~$29.3 million at an average price of $28,016 per bitcoin,” Saylor tweeted On Wednesday. “As of 4/4/2023, Microstrategy owns 140,000 bitcoins purchased for ~$4.17 billion at an average price of $29,803 per bitcoin.”
The publicly traded company with the second largest stake in BTC is Galaxy Digital, with 40,000 BTC. Microstrategy’s bitcoin pool is the same size as Block.one’s and 1,686 BTC smaller than the Mt. Gox bitcoins held by the bankruptcy court trustee in Tokyo. Microstrategy has been acquiring bitcoins since August 2020 and has employed the dollar cost averaging (DCA) strategy for its investments.
What do you think the future holds for Microstrategy’s Bitcoin investment strategy? Let us know your thoughts in the comments.
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