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MicroStrategy buys additional 3,000 Bitcoin worth $155M

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Cryptocoins News / CoinJournal 2 months ago 27 Views

  • MicroStrategy has acquired an additional 3,000 Bitcoin (BTC) for $155 million.
  • The company now holds 193,000 BTC acquired at an average price of $31,544.

Michale Saylor’s MicroStrategy is continuing with its Bitcoin strategy with another huge purchase of the flagship cryptocurrency.

MicroStrategy buys 3,000 more BTC

On Monday, the business intelligence company announced it had acquired an additional 3,000 Bitcoin (BTC) for $155 million. The company’s founder and Chairman Michael Saylor revealed the latest haul via his X account.

According to the announcement, MicroStrategy acquired the 3k BTC for an average price of $51,813 each. With this, the publicly listed company’s total Bitcoin holdings have increased to 193,000 BTC. The US-based firm has since its first purchase in 2020 accumulated bitcoin acquired for $6.09 billion.

In the grand scheme of things, MicroStrategy’s Bitcoin acquisition has been at an average price of $31,544.

MicroStrategy’s latest purchase came as BTC price retreated from the recent highs of $53,000. While some analysts say BTC could dip below $50k and likely bounce from the $48k support level, many remain extremely bullish.

On February 20, Saylor called BTC “the exit strategy” highlighting his company’s long term view.

The company bought $615 million worth of BTC in December 2023.

The post MicroStrategy buys additional 3,000 Bitcoin worth $155M appeared first on CoinJournal.


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