MicroStrategy Acquires 3,000 BTC for $155 Million

MicroStrategy has made an additional purchase of 3,000 BTC, as announced by the company’s founder, Michael Saylor.

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

According to a report filed with the U.S. Securities and Exchange Commission, the firm purchased bitcoin between February 15 and 25 for approximately $155.4 million at an average price of $51,813.

Saylor stated that MicroStrategy holds 193,000 BTC valued at approximately $6.09 billion, with an average price of $31,544.

At the time of writing, the leading cryptocurrency is trading above $51,300. Over the past 24 hours, the asset has decreased by 0.7%, according to CoinGecko.

In October, MicroStrategy acquired 155 BTC for $5.3 million. In November, the firm purchased an additional 16,130 BTC for $593.3 million, followed by another 14,620 BTC for $615.7 million in December.

In February 2024, the company reported acquiring 850 BTC for $37.2 million the previous month, bringing its total reserves in the leading cryptocurrency to 190,000 BTC.

Earlier, Saylor stated that the firm does not intend to sell its holdings of the leading cryptocurrency in the near or long term.

MicroStrategy plans to transition into a “developer of bitcoin and related products.” Since its inception, the company has focused on creating and supporting analytical software.