MicroStrategy Buys $147 Million in Bitcoin
MicroStrategy, led by billionaire Michael Saylor, has announced its latest Bitcoin purchase, totaling a substantial "9 figures."
Specifically, on September 25, MicroStrategy allocated $147.3 million to acquire 5,445 Bitcoins, with an average purchase price of $27,053 per BTC.
This acquisition increases MicroStrategy's total Bitcoin holdings to 158,245 coins, valued at $4.68 billion USD, with an average purchase price of $29,582 per BTC.
MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv
— Michael Saylor⚡️ (@saylor) September 25, 2023
This marks MicroStrategy's fifth Bitcoin purchase this year, following previous acquisitions in March ($150 million), April ($29.3 million), June ($347 million), and July ($14.4 million), totaling $682 million USD.
MicroStrategy's Bitcoin purchase history. Source: Saylor Tracker (09/25/2023)
In early August, MicroStrategy filed with the SEC to issue $750 million in bonds, utilizing the funds raised to continue its Bitcoin acquisition strategy.
On September 25, Bitcoin showed signs of continued decline, nearing the $26,000 resistance level. Despite MicroStrategy's significant Bitcoin purchase, it did not lead to significant price movements for BTC. As of the time of writing, MicroStrategy's entire Bitcoin investment portfolio is experiencing nearly a 12% loss.
Chart: 1-hour BTC/USDT pair on Binance as of 07:30 PM on September 25, 2023.
