BTC
by BSC News
December 27, 2023
MicroStrategy Chairman Michael Saylor revealed that the average purchase price was $42,110 per Bitcoin, with the total spending reaching approximately $5.9 billion for 189,150 Bitcoins.
MicroStrategy recently expanded its Bitcoin reserves with the acquisition of an additional 14,620 bitcoins, according to a recent filing. The company's latest investment amounted to a substantial $615 million, bringing its total Bitcoin expenditure to nearly $1.2 billion since November.
MicroStrategy Chairman and former CEO, Michael Saylor, announced on X that the company secured this latest batch of Bitcoin at an average price of $42,110 per coin. With this acquisition, the firm now holds a remarkable 189,150 bitcoins, obtained at an average cost of $31,168 per Bitcoin.
This cumulative investment translates to a staggering $5.9 billion. The recent purchase, disclosed in a Form 8-K filing, occurred between November 30 and December 26, contributing to MicroStrategy's impressive crypto portfolio.
With its latest Bitcoin acquisition, MicroStrategy has brought itself within reach of the U.S. government's holdings, now only 20,000 bitcoins away from matching the government's 210,429 Bitcoin stash.
Furthermore, the company is on the verge of controlling 1% of the total Bitcoin supply, a significant milestone in the volatile world of cryptocurrency.
MicroStrategy's foray into Bitcoin began in 2020 and has continued unabated, even after the departure of founder Michael Saylor from the CEO position. Notably, institutional investors have seized the opportunity to gain exposure to Bitcoin by acquiring MicroStrategy shares (MSTR).
Recent market movements have been influenced by various filings, including those from heavyweight institutions such as BlackRock. The resurgence of interest in cryptocurrency follows a period of market downturns triggered by the collapse of prominent firms like FTX.
In parallel, MicroStrategy's decision to sell 1 million shares, generating $610 million, aligns with its earlier plan to raise $750 million. This strategic move indicates the company's flexibility in managing its financial portfolio.
However, the broader cryptocurrency market has experienced positive momentum, with Bitcoin's price climbing from $37,400 to its current valuation of $42,046 over the past month.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
Related News
Latest News
0h : 8m ago
Sonne Finance Hacked for $20M, Markets Paused on Optimism Network
0h : 38m ago
Bitget Wallet Launches Bitget Onchain Layer and $10M $BWB Ecosystem Fund
May 14, 2024
Gamestop Parody Memecoin Crosses $100M Market Cap: What is $GME?
May 14, 2024
What is Maneki Memecoin?
May 14, 2024
Tornado Cash Founder Found Guilty and Sentenced to 64 Months in Prison
May 13, 2024
Binance Labs New Investment: What is Zest Protocol?
May 13, 2024
Japan’s Metaplanet Adopts Bitcoin as Reserve Asset Amid Yen's Decline
May 11, 2024
Weekly Article Recap: 5/06-5/10
More News