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
