MicroStrategy, the business intelligence company founded by Michael Saylor and the largest holder of Bitcoin in the corporate world, has recently announced another notable purchase of the digital asset worth $29.3 million.
This latest acquisition has helped the company reach a whopping 140,000 Bitcoin in its holdings.
The company had been relatively quiet for several months when the cryptocurrency’s price was struggling below $20,000. However, in March, MicroStrategy began accumulating Bitcoin once again by purchasing 6,500 BTC and also repaid a $205 million loan that it took a year earlier from Silvergate Bank.
On April 5, the firm’s former CEO Michael Saylor announced the second purchase of the year. MicroStrategy bought 1,045 Bitcoin for $29.3 million, with an average price of $28,016.
While this purchase isn’t the company’s largest single purchase, it has managed to round up its BTC holdings 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 accumulating BTC in August 2020 and has since spent nearly $4.2 billion for its 140K BTC, with an average price of $29,803 per Bitcoin.
It’s worth noting that just a few months ago, the company’s position was deep underwater when the asset’s price dropped way below $20,000. However, MicroStrategy is now almost at break even.