- Michael Saylor’s MicroStrategy has purchased another $5.4 billion worth of Bitcoin, adding 55,500 BTC to its stash
- This is MicroStrategy’s biggest Bitcoin purchase to date, paying an average of $97,862 per BTC
- MicroStrategy now holds a total of 386,700 BTC acquired for $21.9 billion
MicroStrategy, led by CEO Michael Saylor, has purchased another $5.4 billion in Bitcoin. This marks the company’s largest Bitcoin acquisition to date.
MicroStrategy Keeps Growing BTC Stash, Adds $5.4 Billion in Bitcoin
In 2024, Bitcoin has seen monumental growth, including becoming the first cryptocurrency-based ETF and surging in institutional investment. MicroStrategy has capitalized on Bitcoin’s rise, purchasing $5.4 billion more Bitcoin to add to its stash.
The business intelligence firm bought 55,500 BTC at $97,862 per coin. This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 386,700 BTC, acquired for $21.9 billion.
MicroStrategy’s Ongoing Bitcoin Purchasing Strategy
MicroStrategy continues to execute on its Bitcoin acquisition strategy. Just last week, the company made a $4.6 billion Bitcoin purchase.
As Bitcoin nears the $100,000 mark, MicroStrategy shows no signs of slowing its purchasing. The company’s stock has surged accordingly, reaching a $100 billion market cap.
Earlier this year, MicroStrategy sought to raise another $2 billion to buy more Bitcoin. It seems likely the company will continue acquiring BTC as the price climbs higher.
The Road Ahead
With Bitcoin knocking on the door of $100,000, MicroStrategy finds itself in an enviable position. The company’s early and aggressive Bitcoin purchases now look incredibly prescient.
As Bitcoin continues its meteoric rise, MicroStrategy will likely keep snapping up more coins. The company has gone all-in on crypto, and it is paying off big time.
