MicroStrategy Acquires 3,000 Bitcoins for $155 Million
MicroStrategy’s Recent Bitcoin Purchase
MicroStrategy, led by Michael Saylor, recently made headlines with the acquisition of an additional 3,000 Bitcoins. This move cost the company approximately $155 million, with an average price per Bitcoin standing at $51,813. The securities filings unveiled this significant investment on Monday, causing a stir in the cryptocurrency world.
Market Response to MicroStrategy’s Investment
Following the news of the Bitcoin purchase, MicroStrategy’s shares experienced a surge of over 1.8% in premarket trading. This positive market response indicated a growing confidence in the company’s strategic decisions and investment choices.
MicroStrategy’s Impressive Bitcoin Holdings
As of February 25, 2024, MicroStrategy boasts an impressive portfolio of 193,000 Bitcoins, acquired for approximately $6.09 billion. The average price per Bitcoin in this extensive collection amounts to $31,544. With the current value of Bitcoin holdings estimated at nearly $10 billion, MicroStrategy has seen a remarkable return of almost 63% on its initial investment.
