{"id":194137,"date":"2023-09-25T23:39:32","date_gmt":"2023-09-25T23:39:32","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194137"},"modified":"2023-09-25T23:39:32","modified_gmt":"2023-09-25T23:39:32","slug":"microstrategy-resumes-buying-spree-by-splashing-another-147m-on-bitcoin","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/microstrategy-resumes-buying-spree-by-splashing-another-147m-on-bitcoin\/","title":{"rendered":"MicroStrategy Resumes Buying Spree By Splashing Another $147M On Bitcoin"},"content":{"rendered":"

MicroStrategy has sent a bullish sign to the crypto market after announcing the purchase of another huge Bitcoin cache.<\/p>\n

The business intelligence software developer put another $147 million into Bitcoin, boosting its crypto stockpile to a whopping 158,245 BTC.<\/p>\n

MicroStrategy Increases BTC Holdings<\/strong><\/h2>\n

Michael Saylor\u2019s MicroStrategy has added more Bitcoins to its already substantial holdings.<\/p>\n

According to a regulatory filing submitted on Monday, the Virginia-based firm and its subsidiaries bought approximately 5,445 Bitcoin for about $147.3 million in cash between August 1 and September 24. The coins were purchased at an average price of $27,053 per coin, inclusive of fees and expenses.<\/p>\n

With the most recent acquisition, MicroStrategy\u2019s haul has ballooned to an aggregate of about 158,245 Bitcoin purchased at an average purchase price of around $29,582 per BTC. The company funded the investment through the sale of 403,362 MSTR shares. MicroStrategy revealed in August that it planned to raise up to $750 million by selling more stock, and intended to use some of the proceeds to buy more BTC.<\/p>\n

MicroStrategy has spent approximately $4.68 billion to grow its coffers, becoming the world’s biggest corporate holder of BTC.\u00a0<\/p>\n

$4.1 Billion In BTC<\/strong><\/h2>\n

MicroStrategy’s continued accumulation of Bitcoin once again underscores the firm\u2019s strong conviction in the asset as a store of value and a long-term investment. Nonetheless, the protracted bear market also indicates that MicroStrategy\u2019s stash is in red.<\/p>\n

With BTC trading around $26,165 at publication time, down around 4% over the past seven days, the value of BTC on MicroStrategy’s balance sheet presently stands at just over $4.1 billion.<\/p>\n

The company, founded by crypto evangelist Michael Saylor, purchased 12,333 BTC for roughly $347 million in June 2023 at an average purchase price of $29,668 per coin.<\/p>\n

Saylor relinquished his role as CEO of MicroStrategy in August 2022. He was replaced by MicroStrategy\u2019s president, Phong Le. Saylor retained his position as the publicly-traded company\u2019s executive chairman to focus on \u201cBitcoin acquisition strategy and related Bitcoin advocacy initiatives.\u201d<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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