MicroStrategy purchased 12 thousand $BTC more
MicroStrategy bought another 12,000 Bitcoins for $821.7 million.
MicroStrategy purchased another 12,000 Bitcoins for $821.7 million; This is the enterprise software maker's second-largest acquisition since it began acquiring the cryptocurrency almost four years ago.
It brings MicroStrategy's total Bitcoin holdings to approximately 205,000 tokens, or over $14 billion. The tokens were purchased from February 26 to March 10, according to a filing by the Tysons Corner, Virginia-based company with the U.S. Securities and Exchange Commission. Bitcoin was purchased mostly with proceeds from the sale of $800 million worth of convertible notes through a private sale that completed on March 8.
Michael Saylor, president and co-founder of MicroStrategy, started buying Bitcoin in 2020 as a hedge against inflation and as an alternative to holding cash. MicroStrategy has already spent more than $1 billion in Bitcoin in the first three months of 2024; This is more than half of last year's total purchase. The cryptocurrency is up nearly 675 percent since Saylor began buying it.