MicroStrategy, a prominent business intelligence and software company, reaffirmed its commitment to Bitcoin by acquiring an additional 122 BTC in April, totaling $7.8 million. Founder & Chairman Michael Saylor, shared the news on Twitter today.
BREAKING: MicroStrategy purchased 122 more #Bitcoin for $7.8 million. pic.twitter.com/IZWUNj0kHY
— Bitcoin Magazine (@BitcoinMagazine) April 29, 2024
MicroStrategy’s President and Chief Executive Officer, Phong Le, emphasized their dedication to Bitcoin’s growth and network development. The company now holds 214,400 bitcoins at an average purchase price of $35,180 per bitcoin, showcasing a solid track record in the cryptocurrency market.
Since their initial investment of $250 million in BTC back in August 2020, MicroStrategy has steadily increased their Bitcoin holdings, creating a treasury reserve strategy that currently holds over 214,400 bitcoins valued at more than $15.5 billion.
Chief Financial Officer Andrew Kang highlighted the company’s success in raising over $1.5 billion and continuously adding bitcoin to their balance sheet, marking their 14th consecutive quarter of BTC accumulation. With the recent surge in Bitcoin’s price and institutional demand, MicroStrategy remains committed to their bitcoin strategy for value creation and innovation.
Following Bitcoin’s recent halving event, MicroStrategy remains at the forefront of the cryptocurrency market with its aggressive BTC investment strategy, showcasing unwavering commitment to digital assets.
