Amidst the price fluctuations observed in Bitcoin and other cryptocurrencies, long-term accumulators seem to remain unfazed by these market dynamics.
Institutional investors, in particular, continue to expand their cryptocurrency portfolios, even if they already possess a significant amount of holdings. MicroStrategy, for instance, tends to enter the Bitcoin market whenever they find an opportunity.
With Bitcoin’s current value hovering around the $30,345 range, the company has acquired an additional 12,333 Bitcoins for a total of $347 million. Michael Saylor, the founder of MicroStrategy, recently shared this news through a tweet, highlighting the ongoing accumulation of Bitcoin by the company.
MicroStrategy holds 152,333 BTC
MicroStrategy’s last purchase was on April 5, 2023. Saylor purchased 1045 bitcoin for $29.3 million when BTC was trading in the $28,000 range.
According to the latest details, MicroStrategy added 12,333 BTC to its reserves for $347 million. Details from Saylor’s tweet reveal that, as of June 28, 2023, the firm holds 152,333 bitcoins. The 152,333 BTC were acquired for a price of $4.52 billion. According to CoinMarketCap data, BTC is trading at $30,267 at press time, with a 1.3% drop 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.