Microstrategy buys an additional 3,000 Bitcoin for $155 million
MicroStrategy acquired an additional 3,000 Bitcoin (BTC) for $155 million.
The company now holds 193,000 BTC at an average price of $31,544.
Michael Saylor's micro strategy in Bitcoin continues with another massive purchase of a major cryptocurrency.
Microstrategy buys 3,000 more BTC
On Monday, Business Intelligence announced that the company had acquired an additional 3,000 bitcoins (BTC) for $155 million. The company's founder and chairman, Michael Saylor, described the latest journey with the X label.
According to the announcement, MicroStrategy received 3k BTC at an average price of $51,813 each. With this, the publicly listed company's total Bitcoin holdings have increased to 193,000 BTC. The US-based firm acquired Bitcoin for $6.09 billion after its first purchase in 2020.
In the grand scheme of things, MicroStrategy's bitcoin purchases averaged $31,544.
Microstrategy earns an additional 3,000 BTC for ~$155 million at an average of $51,813 per #bitcoin. As of 2/25/24 @MicroStrategy now hodls 193,000$BTC for ~$6.09 billion at an average of $31,544 per bitcoin. $MSTR
— Michael Saylor⚡️ (@saylor) February 26, 2024
MicroStrategy's latest buy comes as the price of BTC pulls back from a recent high of $53,000. While some analysts say that BTC could drop below $50k and possibly rise above the $48k support level, many remain extremely bullish.
On February 20, Saylor It is called BTC's “exit strategy” emphasizes the company's long-term vision.
The company bought $615 million worth of BTC in December 2023.
