MicroStrategy, the Michael Saylor-founded business intelligence giant, which is also the largest corporate holder of bitcoin, made another notable purchase ($29.3 million worth of the asset).
It helped the company to round up its massive BTC stash to 140,000.
After several months of keeping relatively quiet when the cryptocurrency’s price was struggling below $20,000, the NASDAQ-listed firm began accumulating bitcoin in March when it bought another batch of 6,500 BTC. Moreover, the company repaid a $205 million loan that it took a year earlier from the now-struggling Silvergate Bank.
The firm’s former CEO – Michael Saylor – announced the second purchase of the year on April 5. MicroStrategy bought 1,045 bitcoin for $29.3 million at an average price of $28,016.
While this is far from the firm’s largest single purchase, it managed to round up the company’s BTC ownings to 140,000.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv
— Michael Saylor (@saylor) April 5, 2023
MicroStrategy began its BTC accumulation strategy in August 2020. It has spent just under $4.2 billion for its 140K BTC, at an average price of $29,803 per bitcoin.
Recall that the firm’s position was deep underwater just up until a few months ago when the asset’s price had dumped way below $20,000. Now, though, MicroStrategy is almost at break even.
The post MicroStrategy Took its Bitcoin Holdings to 140K With Another Purchase appeared first on CryptoPotato.
