As the company continues to lean into the strategy that has served them so well, Michael Saylor’s MicroStrategy has purchased another $4.6 billion in Bitcoin. Indeed, Saylor announced the acquisition on X (formerly Twitter). Therefore, the company’s holdings increased by another 51,780 BTC.
The move has seen the company continue to grow its investment in the leading cryptocurrency. To this point, it has paid off extremely well. Last week, the asset had reached a $93,000 all-time high after continued landmark price marks. That trend is expected to continue well into next year.
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MicroStrategy Buys Bitcoin Again: Adds Over 51,000 BTC to Holdings
Find someone who stands by you the way Michael Saylor stands by Bitcoin. The founder and chairman of MicroStrategy has not been shy in his ardent defense of the asset. Moreover, he has put his actions where his words are, heavily investing in both his personal and professional stash.
To this point, it has paid off. Just six days ago, the company’s stock reached an all-time high price, closing at $356.69. Its connection to the leading cryptocurrency was a massive reason for that. With the strategy working brilliantly, they have only continued their investment. Indeed, Michael Saylor announced that MicroStrategy has purchased another $4.6 billion in Bitcoin.
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In a press release regarding the sale, the company updated its total holdings to 331,200 BTC. That stash is valued at a remarkable $16.5 billion but is even more impressive when considering the average cost per BTC. According to Saylor, the company has averaged just $49,874 per Bitcoin.
That is a far cry from its currency position above $90,000. And just like the price of Bitcoin is not expected to slow, nor is MicroStrategy’s acquisition plan. The company hinted that it is currently raising $42 billion over the next three years, all with the intent of buying more Bitcoin.