- 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.
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.
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.
