Crypto News

MicroStrategy now holds 1% of Bitcoin after adding $623M in BTC

MicroStrategy adds $623M in Bitcoin

MicroStrategy’s Bitcoin holdings have grown to 214,246 after the company purchased 9,245 BTC for $623 million.

The company purchased Bitcoin at an average price of $67,382 apiece, with the acquisition being financed by convertible notes and additional cash.

Following the US SEC’s approval of eleven Spot Bitcoin exchange-traded futures (ETFs) in 2024, the value of Bitcoin surged to over $73,500, setting a new record.

Additionally, MicroStrategy now own over 214,000 Bitcoins with an average investment cost of $35,160 per Bitcoin. The dedication of MicroStrategy to Bitcoin is unwavering, even if the value of Bitcoin has dropped significantly this week.

Meanwhile, the founder and chairman of MicroStrategy Michael Saylor is bullish on the crypto’s future and the company’s plan to keep investing, having raised more than $500 million for acquisitions.

The firm has grown into a strong supporter of cryptocurrencies like Bitcoin under Saylor’s leadership, who views them as an asset with enormous growth potential in the long run.


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