MicroStrategy buys $147M worth of Bitcoin, now holds 158K BTC

MicroStrategy, a concern quality steadfast and large Bitcoin (BTC) investor, is sending a bullish awesome to the marketplace by announcing the acquisition of different large stash of cryptocurrency.

Michael Saylor, co-founder and enforcement president astatine MicroStrategy, took to X (formerly Twitter) connected Sept. 25 to denote a 5,445 BTC acquisition by the firm. The latest Bitcoin stash was bought astatine an mean terms of $27,053 per BTC, oregon for $147.3 cardinal successful cash.

According to a Form 8-K filing with the United States Securities and Exchange Commission, MicroStrategy and its subsidiaries person been successful the process of acquiring the magnitude betwixt Aug. 1, 2023 and Sept. 24, 2023.

As of Sept. 24, MicroStrategy and its subsidiaries held an aggregate of astir 158,245 bitcoins, which were acquired astatine an mean acquisition terms of astir $29,582 per BTC, inclusive of fees and expenses, the filing notes. The aggregate acquisition terms for MicroStrategy’s full Bitcoin holdings has amounted to $4.68 billion.

MicroStrategy has acquired an further 5,445 BTC for ~$147.3 cardinal astatine an mean terms of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 cardinal astatine an mean terms of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv

The caller acquisition comes arsenic Bitcoin trades sideways astir $26,000 implicit the past fewer weeks. After concisely touching $28,000 connected Aug. 29, Bitcoin slipped to arsenic debased arsenic $25,000 connected Sept. 11. At the clip of writing, Bitcoin is trading astatine $26,081, down 1.9% implicit the past 24 hours, according to information from CoinGecko. The cryptocurrency is besides down astir 4% implicit the past 7 days.

Related: Bitcoin bought by firm giants should not beryllium feared — Michael Saylor

MicroStrategy’s latest Bitcoin acquisition further reaffirms the company’s bullish stance connected Bitcoin. The steadfast previously bought 12,333 BTC for $347 million successful June 2023, astatine an mean acquisition terms of $29,668 per BTC.

In Q1 2023, MicroStrategy reported its first profitable 4th since 2020 owed to a one-time income taxation benefit. The institution managed to clasp profitability successful the adjacent quarter, reporting $22.2 cardinal successful nett income successful aboriginal August.

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