MicroStrategy, the Michael Saylor-founded business intelligence giant, which is also the largest corporate holder of bitcoin, made another notable purchase ($29.3 million worth of the asset).
It helped the company to round up its massive BTC stash to 140,000.
- After several months of keeping relatively quiet when the cryptocurrency’s price was struggling below $20,000, the NASDAQ-listed firm began accumulating bitcoin in March when it bought another batch of 6,500 BTC. Moreover, the company repaid a $205 million loan that it took a year earlier from the now-struggling Silvergate Bank.
- The firm’s former CEO – Michael Saylor – announced the second purchase of the year on April 5. MicroStrategy bought 1,045 bitcoin for $29.3 million at an average price of $28,016.
- While this is far from the firm’s largest single purchase, it managed to round up the company’s BTC ownings to 140,000.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv
— Michael Saylor⚡️ (@saylor) April 5, 2023
- MicroStrategy began its BTC accumulation strategy in August 2020. It has spent just under $4.2 billion for its 140K BTC, at an average price of $29,803 per bitcoin.
- Recall that the firm’s position was deep underwater just up until a few months ago when the asset’s price had dumped way below $20,000. Now, though, MicroStrategy is almost at break even.