On April 5, MicroStrategy Executive Chairman Michael Saylor, via Twitter announced that the US business intelligence firm has acquired another 1,045 Bitcoin (BTC) for approximately $29.3 million. The average price per BTC was around $28,016.
Owned 140,000 Bitcoin
MicroStrategy reached a major milestone on April 5, 2023 by holding a total of 140,000 Bitcoin. The company acquired this cryptocurrency for approximately $4.17 billion, at an average price of $29,803 per BTC. This acquisition is a continuation of the company’s strategy of investing in Bitcoin as a reserve asset.
Saylor is a staunch supporter of Bitcoin. He has urged companies to adopt the largest cryptocurrency as a strategic asset and has repeatedly emphasized that Bitcoin is currently the safest and most reliable store of value on the market. According to Saylor, Bitcoin offers companies a unique opportunity to protect their assets against inflation.
Silvergate Loan Repaid
Most recently, MicroStrategy repaid its Silvergate loan and bought 6,500 BTC at the end of March, as part of their Bitcoin strategy with huge amounts of money and a cost average of about one dollar. The company made its first Bitcoin purchase in August 2020 and has continuously expanded its holdings ever since.
With the latest purchase, MicroStrategy owns more than $12.6 billion in Bitcoin, underscoring the company’s confidence in the cryptocurrency’s long-term potential.
