MicroStrategy Acquires Additional 5,445 Bitcoins, Total Holdings Reach 158,245 BTC

Key Takeaways

MicroStrategy purchases 5,445 more Bitcoins for approximately $147.3 million.

The company now holds a total of 158,245 Bitcoins, acquired at an average price of $29,582 per Bitcoin.

The acquisition comes amid a period of relative price stability for Bitcoin, which is currently trading around $26,000.

Strategic Investment

MicroStrategy, a leading business intelligence firm, has further solidified its position as a significant Bitcoin investor by acquiring an additional 5,445 BTC. The announcement was made by Michael Saylor, the company's co-founder and executive chairman, on X (formerly known as Twitter) on September 25, 2023. The acquisition was completed for a total cash payment of $147.3 million, averaging $27,053 per Bitcoin.

Regulatory Filing Details

According to a Form 8-K filing submitted to the United States Securities and Exchange Commission (SEC), the latest acquisition took place between August 1 and September 24, 2023. As of the latter date, MicroStrategy and its subsidiaries control approximately 158,245 Bitcoins. These assets were acquired at an average price of $29,582 per Bitcoin, inclusive of all fees and expenditures. The aggregate purchase price for all Bitcoin assets held by the company stands at around $4.68 billion.

Market Context

The acquisition comes at a time when Bitcoin prices have shown relative stability, hovering around the $26,000 mark for several weeks. After peaking close to $28,000 on August 29, the cryptocurrency hit a low of $25,000 on September 11. According to data from CoinGecko, the current market price of Bitcoin is $26,081, representing a 1.9% decrease over the last 24 hours and a 4% decrease over the past week.

Company's Bitcoin Strategy

This latest acquisition reinforces MicroStrategy's bullish stance on Bitcoin. Earlier in June 2023, the company purchased 12,333 Bitcoins for a total of $347 million, at an average price of $29,668 per coin. Notably, MicroStrategy reported its first profitable quarter since 2020 in Q1 2023, thanks in part to a one-time income tax gain.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.