Publicly traded business intelligence company MicroStrategy has purchased an additional Bitcoin stash to bolster its portfolio. In the latest big buy, the firm acquired 3,000 BTCs for approximately $155 million. The latest BTC acquisition came when Bitcoin’s price traded around the $51,000 price mark.
MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoin. As of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR https://t.co/micudbYf3P
— Michael Saylor⚡️ (@saylor) February 26, 2024
MicroStrategy’s BTC Stash Enters 193,000 BTCs
The acquisition, completed over the past 24 hours, saw the company’s total Bitcoin stash increase to 193,000 BTCs. MicroStrategy’s total BTC holdings were acquired for approximately $6.09 billion at an average trading price of $31,544 for 1 BTC.
Notably, this will be MicroStrategy’s second BTC purchase revealed this month. On February 4th, the business intelligence firm noted via its Q4 2023 update that it acquired 850 BTCs.
For over three years, MicroStrategy, under the leadership of its co-founder and then-CEO Michael Saylor, has upheld a Bitcoin buying spree. Today, the publicly traded company ranks number one among public companies holding the leading crypto asset. Moreover, the company’s latest BTC purchase entails that it now holds 0.919% of Bitcoin’s total supply, pegged at 21 million coins.
Today, companies such as Tether and a slew of institutions offering the spot Bitcoin exchange-traded fund (ETF) have begun accumulating BTCs, following MicroStrategy’s path.
Meanwhile, in another report, Coinfomania revealed an exploit faced by MicroStrategy’s followers on X. The X social handle of the giant business intelligence company was hacked and used for malicious phishing attacks, where victims parted with over $440,000 worth of crypto assets. Neither MicroStrategy nor any other top official in the company has yet to address the attack at press time.
BTC Trades at $51k
MicroStrategy’s confidence in Bitcoin lies in the asset’s price performance over time. When the firm began accumulating BTC in August 2020, the asset traded around $11,300. Since then, Bitcoin’s price has skyrocketed to incredible heights. In November 2021, the asset rose to an all-time high (ATH) of $68,000.
At the time of writing, BTC traded at $51,200.
Source: CoinStats
