News

MicroStrategy bolsters Bitcoin holdings with new $594M acquisition

Published

1 year ago

November 30, 2023

MicroStrategy has recently disclosed the purchase of an estimated 16,130 bitcoins in exchange for a cash payment of $594M. This acquisition which took place between November 1, 2023, and November 29, 2023, was at an average cost of approximately $36,785 per bitcoin. This cost includes all associated fees and expenses.

In a strategic move to participate in the cryptocurrency market and increase its holdings, the business intelligence company and its subsidiaries acquired 16,130 bitcoins.

This acquisition reaffirmed their commitment to Bitcoin as a valuable treasury asset. With this latest purchase, MicroStrategy now holds an impressive total of 174,530 bitcoins.

Over time, MicroStrategy has strategically accumulated bitcoin, investing approximately $5.280 billion in acquisition costs. The average cost, including fees and expenses, for acquiring bitcoin from MicroStrategy is estimated to be around $30,252 per bitcoin. Their methodical approach has positioned them as a significant player in the cryptocurrency market.

The recent acquisition of Bitcoin by MicroStrategy is confirmed in an official document. This document is signed by W. Ming Shao, the Senior Executive Vice President and General Counsel at MicroStrategy. It aims to provide transparency and clarity regarding the organization’s cryptocurrency operations.

MicroStrategy has been at the forefront of integrating Bitcoin into the treasury strategies of major corporations. The company’s proactive approach to cryptocurrency investment hasn’t gone unnoticed. Both the traditional financial sector and the cryptocurrency community are keeping an eye on them.

MicroStrategy’s significant Bitcoin acquisitions in the past years have had a profound impact on market sentiments. These acquisitions have not only sparked discussions but also inspired conversations about the broader institutional adoption of cryptocurrencies.