MicroStrategy Reinforces Its Bold Bet on Bitcoin.
The renowned business intelligence firm, MicroStrategy, led by prominent Bitcoin advocate Michael Saylor, has made a new and significant investment in the leading cryptocurrency in the market. This move underscores the company's continued confidence in the digital asset, especially in a context of growing interest from large investors and an increase in capital inflows to Bitcoin exchange-traded funds (ETFs).
According to an official statement submitted to the U.S. Securities and Exchange Commission (SEC) on March 24, MicroStrategy acquired a total of 6,911 additional Bitcoins during the period from March 17 to March 23. This purchase represented an outlay of over 584 million dollars. The average price paid for each Bitcoin in this round was approximately 84,529 dollars.
The total accumulated value of these holdings amounts to about 33.7 billion dollars. It is important to note that the average purchase price of its entire Bitcoin portfolio, including associated fees and expenses, is around 66,608 dollars per coin.
This ongoing accumulation strategy positions MicroStrategy as one of the largest corporate holders of Bitcoin worldwide, reflecting a strong conviction in the long-term potential of the cryptocurrency as a store of value.
