MicroStrategy Suspends Bitcoin Purchases
MicroStrategy, the largest Bitcoin holding company, has announced a major shift in its cryptocurrency acquisition strategy.
MicroStrategy said it suspended Bitcoin purchases last week, which were part of its plan to buy the cryptocurrency weekly.
“Last week, our company did not sell any shares of Class A common stock under the at-market offering program, nor did it purchase any Bitcoin,” billionaire Michael Saylor, CEO of MicroStrategy, wrote in a tweet on his X account.
The company has continued to buy Bitcoin for 12 consecutive weeks, and currently owns and holds approximately 500,000 cryptocurrencies, specifically 471,107 Bitcoin, or 2.25% of the total available in the currency worldwide.
The company spent approximately $30.4 billion on this purchase of Bitcoin, at an average price of $64,511 per Bitcoin.
Michael Saylor, president of MicroStrategy, was bullish on more bitcoin buying, telling CNBC: "Every day is a good day to buy bitcoin, it's always a good investment to invest in the economic capital of the free world."
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