- Michael Saylor announced that the company purchased $155 million worth of Bitcoin, bringing its total BTC holdings to 193,000.
- MicroStrategy acquired the Bitcoins at an average price of $51,813 between February 15 and February 25, 2024.
- The Bitcoin purchase was made with the proceeds from a share issuance and sale, as reported on November 30, 2023.
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Michael Saylor announced that MicroStrategy company purchased Bitcoin. The company’s total assets exceeded 190K BTC.
MicroStrategy Company Announces Bitcoin Acquisition
Michael Saylor announced that MicroStrategy has purchased $155 million worth of Bitcoin, reaching a total of 193,000 BTC in the company’s holdings. This move comes ahead of Bitcoin’s halving and spot Bitcoin ETFs accumulating Bitcoin, making it a significant strategic move by Michael Saylor.
According to a new filing with the U.S. Securities and Exchange Commission on February 26, MicroStrategy Inc. acquired approximately 3,000 Bitcoins for about $155.4 million in cash. The BTC was purchased at an average price of $51,813 between February 15 and February 25, 2024.
Michael Saylor mentioned that MicroStrategy and its subsidiaries now own a total of 193,000 BTC, acquired at an average price of $31,544, costing nearly $6.09 billion. The Bitcoin acquisition was funded with the proceeds from a share issuance and sale, as reported on November 30, 2023.
MicroStrategy’s latest purchase follows the acquisition on December 27, which cost around $615.7 million for 14,620 BTC. Michael Saylor argues that MicroStrategy is not affected by the potential negative impact of launching an ETF on MSTR and defends that MicroStrategy, being a business company, is different from ETFs as ETFs are leveraged and charge fees.
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Current State of Bitcoin Price
In the past hour, BTC price has increased by 1%, recovering from the 24-hour low of $51,250 and currently trading at $51,410. The 24-hour low and high values are $50,931 and $51,950, respectively. Additionally, the trading volume has increased by 10% in the last 24 hours, indicating growing interest among traders.
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