MicroStrategy Buys Another 1,045 Bitcoins

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On April 5, MicroStrategy, declared that it had purchased an additional 1,045 Bitcoin for around $29.3 million, averaging $28,016 per BTC. MicroStrategy executive chairman Michael Saylor tweeted about this development.

MicroStrategy currently holds a total of 140,000 BTC, which was procured for approximately $4.17 billion, with an average price of $29,803 per BTC, as of April 5, 2023. This acquisition marks a significant milestone for the company, which continues to invest in Bitcoin as a reserve asset.

Michael Saylor has been a vocal proponent of Bitcoin and has led the charge for businesses to adopt it as a strategic asset. He believes that Bitcoin is the most secure and dependable store of value in the market today and offers an exclusive opportunity for businesses to safeguard their assets from inflation.

In March, MicroStrategy paid off its Silvergate loan and purchased 6,500 BTC. The company’s Bitcoin strategy seems to be dollar-cost averaging but on a large scale.