MicroStrategy, renowned in the business intelligence and software arena, has bolstered its Bitcoin portfolio with a new purchase of 14,620 BTC, amounting to $615.7 million, as confirmed by Michael Saylor, the company’s Founder & Chairman. This acquisition coincides with a bullish trend in Bitcoin’s market, with its value recently surpassing $42,000.
Embarking on its Bitcoin journey in August 2020, MicroStrategy made a substantial initial investment of $250 million. Since then, the company has progressively augmented its Bitcoin reserves, employing a strategic approach that has resulted in a collection of over 189,150 bitcoins, currently valued at upwards of $8.11 billion.
On December 27, 2023, MicroStrategy reported that from November 30 to December 26, 2023, it, along with its subsidiaries, invested around $615.7 million in cash to acquire approximately 14,620 bitcoins. The average cost per bitcoin, inclusive of fees and expenses, was approximately $42,110. As of December 26, 2023, the combined holdings of MicroStrategy and its subsidiaries amount to about 189,150 bitcoins, purchased for an overall $5.895 billion and an average price of roughly $31,168 per bitcoin, inclusive of fees and expenses.
In anticipation of the fourth Bitcoin halving and the potential early approval of the first spot Bitcoin ETF in the U.S., MicroStrategy is steadfast in its aggressive Bitcoin investment approach, showing no signs of deceleration.