MicroStrategy Acquires 12,333 Bitcoins
MicroStrategy, the leading business intelligence firm led by CEO Michael Saylor, has announced the acquisition of an additional 12,333 Bitcoins. The purchase, valued at approximately $347.0 million, was made at an average price of $28,136 per Bitcoin. This latest investment brings MicroStrategy’s total Bitcoin holdings to 152,333, acquired for approximately $4.52 billion at an average price of $29,668 per Bitcoin.
MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. $MSTR https://t.co/joHo1gEnR0
— Michael Saylor⚡️ (@saylor) June 28, 2023
Bitcoin Accumulation Strategy
The move reaffirms MicroStrategy’s commitment to Bitcoin as a long-term store of value and highlights their ongoing strategy to accumulate the digital asset. MicroStrategy has been a prominent advocate for Bitcoin, recognizing its potential as a hedge against inflation and an alternative to traditional fiat currencies.
Michael Saylor, known for his bullish stance on Bitcoin, took to Twitter to announce the recent purchase. In his tweet, Saylor stated, “MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. $MSTR.”
Confidence Amidst Volatility
MicroStrategy’s continued accumulation of Bitcoin has positioned the company as one of the largest institutional holders of the cryptocurrency. Their substantial Bitcoin holdings reflect their confidence in its potential as a secure and appreciating asset. The news of MicroStrategy’s latest purchase comes at a time when Bitcoin has experienced increased volatility in the market. Despite short-term fluctuations, MicroStrategy remains steadfast in its belief in the long-term value of Bitcoin, with Saylor expressing his conviction that the digital currency will continue to play a crucial role in the future of finance.
As MicroStrategy continues to strengthen its position in the cryptocurrency market, the company’s strategic moves will undoubtedly garner attention from both institutional and retail investors. The influence of MicroStrategy in the Bitcoin space, coupled with Saylor’s unwavering support for the digital asset, further solidifies the company’s reputation as a significant player in the evolving landscape of cryptocurrencies.
