MicroStrategy, the renowned business intelligence company led by CEO Michael Saylor, has once again demonstrated its strong belief in Bitcoin by acquiring an additional 12,333 BTC. This purchase brings MicroStrategy’s total Bitcoin holdings to a staggering 152,333 BTC.
The acquisition, valued at approx. $347.0 million, was completed at an average price of $28,136 per Bitcoin. The recent purchase shows MicroStrategy’s continued commitment to Bitcoin and confidence in its long-term potential.
Increasing Total Bitcoin Holdings
Michael Saylor, a vocal proponent of bitcoin, announced the news via his Twitter account. In his tweet, he stated, “MicroStrategy has purchased an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy holds 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin.” Saylor’s tweet underscores the company’s significant investment in bitcoin and its determination to continue accumulating the cryptocurrency.
MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. $MSTR https://t.co/joHo1gEnR0
— Michael Saylor⚡️ (@saylor) June 28, 2023
MicroStrategy first made headlines in August 2020, when it became the first publicly traded company to adopt bitcoin as its primary reserve asset. Since then, the company continuously acquiring Bitcoin, viewing it as a safe store of value and a hedge against inflation.
With this latest purchase, MicroStrategy’s total bitcoin holdings are now valued at approx. $4.52 billion, with an average purchase price of $29,668 per BTC.
Implications for Corporate Adoption
MicroStrategy’s strategic move to diversify its treasury holdings with bitcoin has been met with both admiration and intrigue in the business and cryptocurrency communities. Saylor’s strong advocacy of Bitcoin and the company’s consistent accumulation of the digital asset have positioned MicroStrategy as a pioneer in the institutional adoption of cryptocurrency.
As Bitcoin continues to gain global recognition and acceptance, MicroStrategy’s substantial investment in the digital asset further solidifies its belief in the potential of decentralized finance. The company’s continued commitment to bitcoin serves as an example to other companies and institutions considering diversifying their assets and embracing cryptocurrencies.
MicroStrategy’s acquisition of an additional 12,333 bitcoins not only reinforces the company’s bullish stance on the cryptocurrency, but also underscores the growing mainstream acceptance of bitcoin as a valuable and resilient asset class. It will be fascinating to watch how MicroStrategy’s continued bitcoin holdings evolve and influence the broader landscape of corporate investment strategies.