MicroStrategy Buys Another $147 Million Worth of Bitcoin

MicroStrategy, a major player in the business intelligence sphere, has significantly increased its stake in Bitcoin, acquiring an additional 5,445 BTC.

This move comes as a part of the company’s continuing strategy to invest in the leading cryptocurrency, affirming its strong belief in the digital asset’s potential value.

MicroStrategy purchased the additional bitcoins for approximately $147.3 million, with an average price of $27,053 per bitcoin, inclusive of fees and expenses, as disclosed in a recent SEC filing.

MicroStrategy and its subsidiaries accumulated the additional Bitcoin between Aug. 1 and Sept. 24, bringing their total holdings to an impressive 158,245 BTC. These were acquired at an aggregate purchase price of approximately $4.68 billion, with an average price of $29,582 per bitcoin.

Former CEO Michael Saylor, who stepped down a year ago but still holds significant sway as the executive chairman, has long been a proponent of Bitcoin, with his cryptocurrency ventures gaining widespread attention

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