Michael Saylor’s MicroStrategy (NASDAQ: MSTR) appears to be doing what it can to prop up the price of bitcoin as the crypto sector gets hit with countless lawsuits. The firm has again stepped up its purchases of bitcoin, with its latest purchase amounting to 1,045 BTC.
MicroStrategy this morning indicated it acquired the additional bitcoin from March 24, 2024 through to April 4, 2023, shelling out $29.3 million to acquire the BTC at an average price of $28,016 per each.
The latest purchase brings the firms entire bitcoin holdings to 140,000 BTC, which was acquired at an average price of $29,803, with total funds spend totaling $4.17 billion.
The purchase follows the firm revealing just two weeks ago that it had acquired 6,455 bitcoin for $150.0 million, which was funded by an ongoing at-the-market financing.
MicroStrategy last traded at $298.98 on the Nasdaq.
Information for this briefing was found via Edgar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
