MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 14,620 BTC for a total cost of $615.7 million, Founder and Chairman Michael Saylor announced today. The purchase came as Bitcoin's price saw upward momentum, reaching highs of over $42,000.
The company initially entered the Bitcoin market in August 2020, making a large initial investment of $250 million in Bitcoin. Since then, they have continually added to their Bitcoin holdings, creating a treasury reserve strategy that has amassed over 189,150 BTC worth over $8.11 billion at the time of writing.
On December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”) announced that between November 30, 2023 and December 26, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 14,620 Bitcoins for approximately 615.7 million USD in cash, at an average price of approximately USD 42,110 per bitcoin, including fees and expenses, MicroStrategy reported. “As of December 26, 2023, MicroStrategy, along with its affiliates, held a total of approximately 189,150 coins. Bitcoin, which was acquired for an aggregate purchase price of approximately US$5.895 billion and an average purchase price of approximately US$31,168 per bitcoin, including fees and expenses.”
With the fourth Bitcoin halving quickly approaching and the first US Bitcoin ETF approved early in the new year, MicroStrategy continues its aggressive Bitcoin investment strategy with no signs of slowing down.
