MicroStrategy Makes Another Massive Bitcoin Purchase: Acquires 12,000 BTC for $347 Million

MicroStrategy has made headlines again with its latest move in the digital asset realm. On July 28, the company announced the acquisition of an additional 12,333 Bitcoins (BTC) at an average price of $28,136.

This significant investment of $347 million further solidifies MicroStrategy’s position as a key player in the Bitcoin market.

With this recent purchase, MicroStrategy’s total Bitcoin holdings now stand at an impressive 152,333, obtained at an average purchase price of $29,668.

The cumulative cost of these holdings amounts to approximately $4.52 billion as of June 27. Michael Saylor’s visionary leadership and unwavering belief in the transformative power of Bitcoin have been instrumental in driving MicroStrategy’s success in the digital currency space.

Market observers are keenly observing the impact of MicroStrategy’s substantial purchase on Bitcoin’s price. Michaël van de Poppe, a notable analyst, suggests that the market may experience a downward movement following the acquisition.