Bitcoin: MicroStrategy Buys 1045 BTC for $29.3 Million

Vignesh Karunanidhi

Despite the volatility of the price of Bitcoin and other cryptocurrencies, those who are accumulating for the long term are least bothered about the price.

The majority of institutional investors, however, continue to add to their coin collections despite already having a sizable holding. MicroStrategy usually enters the Bitcoin market whenever the token’s price falls.

However, even though BTC is hovering around the $28000 range, the company has purchased 1045 Bitcoin for $29.3 million. Michael Saylor, the founder of MicroStrategy, recently tweeted about the accumulation of 1045 bitcoin.

MicroStrategy holds 140,000 BTC

MicroStrategy’s recent purchase was on March 27, 2023. Saylor purchased 6455 bitcoin for $150 million when BTC was trading at $23,238.

According to the latest details, MicroStrategy added 1045 BTC to its reserves for $29.3 million. Details from Saylor’s tweet reveal that, as of April 4, 2023, the firm holds 140,000 Bitcoin. The 140,000 BTC were acquired for a price of $4.17 billion. According to CoinMarketCap data, BTC is trading at $28,562 at press time with a 1% spike in value over the last 24 hours.

Saylor seems adamant about his BTC choice despite the ups and downs and a loss. The business is long-term oriented and has no immediate plans to sell its BTC.