- MicroStrategy acquired 14,620 BTC for $615.7 million, bringing its total holdings to 189,150 BTC for $5.9 billion.
- CEO Michael Saylor remains bullish on Bitcoin, considering it the most valuable asset class in the world.
- The company’s active cryptocurrency strategy targets 1% of the Bitcoin supply in line with growing institutional interest.
Business intelligence giant MicroStrategy (NASDAQ: MSTR), led by CEO Michael Saylor, has reaffirmed its belief in Bitcoin’s long-term potential.
In a recent filing with the Securities and Exchange Commission (SEC), MicroStrategy revealed that it acquired 14,620 BTC between November 30, 2023 and December 26, 2023. This significant purchase amounts to $615.7 million, at an average price of $42,110 per Bitcoin.
The latest purchase follows the company’s purchase of an additional 5,445 bitcoins in September 2023.
MicroStrategy’s total Bitcoin holdings have now reached an impressive 189,150 BTC, acquired at a cost of approximately $5.9 billion. This move will give the company ownership of 1% of the total Bitcoin supply. MicroStrategy’s Bitcoin holdings represent approximately 0.7% of the major digital asset’s total market capitalization.
MicroStrategy’s Optimism Amid Bitcoin Volatility
Despite recent price fluctuations in the cryptocurrency market, MicroStrategy remains steadfast in its positive outlook on Bitcoin. Bitcoin advocate Michael Saylor has stated that he sees the cryptocurrency as the currency of the future. This sentiment is reflected in MicroStrategy’s ongoing strategy of accumulating significant amounts of Bitcoin and viewing it as a strategic part of the company’s treasury reserves.
MicroStrategy’s proactive approach to cryptocurrency investing is consistent with the broader trend of increasing institutional interest in digital assets. As Bitcoin continues to be viewed as a valuable hedge against inflation and store of value, companies like MicroStrategy are taking advantage of the opportunities presented by the evolving landscape of the cryptocurrency market.
The business intelligence giant recently reaffirmed its position as a major player in the cryptocurrency industry with its $615 million Bitcoin purchase. The company’s continued confidence in Bitcoin’s future potential is reflected in its strategic accumulation of digital assets, solidifying its position as a significant holder in the ever-expanding world of cryptocurrencies.