MicroStrategy Increases Its Substantial Investment In Bitcoin, Now Holding A Total Of 140,000 BTC
MicroStrategy has acquired another 1,045 Bitcoin, bringing their total holdings to 140,000 BTC, which were obtained for a combined cost of $4.17 billion.
Because Bitcoin
April 5, 2023
MicroStrategy has disclosed that it has bought an additional 1,045 Bitcoin valued at roughly $29.3 million as of Wednesday.
As the firm has a significant investment in the digital asset, its shares are often regarded as a means to indirectly invest in Bitcoin, and have gained 105% since the start of the year.
In pre-market trading, the stock climbed by 1.3%, trading around $303. The new Bitcoin was purchased at an average price of $28,016 between March 24 and April 4, while the cryptocurrency market was grappling with further regulatory uncertainty due to the CFTC's lawsuit against Binance and its CEO.
The recent acquisition follows a $150 million buy last week when the firm also settled its loan with Silvergate. MicroStrategy and its subsidiaries now hold around 140,000 bitcoins, which were acquired for a combined price of approximately $4.17 billion, as per an SEC 8-K filing. The company's average purchase price now stands at $29,803, a level that bitcoin has been trading below since June of last year.
Here is the link to our last article, covering the previous purchase of MicroStrategy.
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