MicroStrategy Increases Bitcoin Holdings To 140,000 After Latest $29.3 Million Purchase
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.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
