MicroStrategy Buys Additional 3,000 Bitcoin Worth $155M

Joshua Ramos
Source – CoinGape

One of the foremost BTC advocates in business, Michale Saylor’s MicroStrategy has acquired an additional 3,000 Bitcoin worth $155 million. Indeed, Saylor took to X (formerly Twitter) to announce the update to the business intelligence firm’s growing holdings of the cryptocurrency.

Saylor stated that the additional BTC was acquired for an average price of $51,813 per Bitcoin. Moreover, he noted that the latest purchase brings MicroStrategy’s total holdings to 193,000 Bitcoin that were acquired for a remarkable $6.09 billion, with an average price of $31,544 per BTC.

Also Read: Michael Saylor Says He Will Never Stop Buying Bitcoin

MicroStrategy Does it Again, Adds 3,000 BTC

The prominence of Bitcoin has certainly grown just two months into 2024. Driven by the 11 Spot Bitcoin ETF approvals that were granted by the US Securities and Exchange Commission (SEC) in January, the asset has already surpassed its two-year high of $52,000 earlier this month.

Although this is good news for the sector, it is fantastic news for longstanding Bitcoin advocates. However, there may be none more enthusiastic than Michale Saylor, CEO of business intelligence firm MicroStrategy. In what is a move to cement that status even more, Syalor announced yet another acquisition of BTC for the firm.

Specifically, Saylor announced that MicroStrategy has bought an additional 3,000 Bitcoin worth $155 million. Furthermore, he noted that the total holdings for the firm have not reached 193,000, and were purchased for a total of $6.09 billion. The decision aligns with Saylor’s ongoing advocacy and recent statements regarding the assets.

MicroStrategy disclosed in its third-quarter earnings report last week that it purchased 155 additional bitcoins in October.
Source: Exodus Wallet

Also Read: MicroStrategy’s X Account Compromised, $440,000 Lost to Phishing Scam

Indeed, he has recently affirmed that Bitcoin is “superior” to all other asset classes. Additionally, he noted that he had no intention of stopping investment in the cryptocurrency. Ultimately referring to Bitcoin as “the exit strategy.

Before the latest acquisition, MicroStrategy had seen its Bitcoin holdings worth already eclipse the $10 billion mark. With its recent purchase, that figure is set to increase plentifully. Moreover, there is no sign that these purchases will slow down any time soon.