MicroStrategy acquired 1,045 Bitcoin for around US$29.3 million, at an average price of US$28,016 per coin, between March 24 and April 4, 2023, said Michael Saylor, MicroStrategy’s co-founder and executive chairman.
Fast facts
This brings MicroStrategy’s total Bitcoin holdings to 140,000 coins, acquired for approximately US$4.17 billion, bought at an average price of US$29,803 per Bitcoin, according to Saylor’s Wednesday announcement.
Saylor’s announcement comes a week after MicroStrategy announced purchasing 6,555 Bitcoin for around US$150 million.
Bitcoin rose 0.73% in the 24 hours to 8:30 p.m. in Hong Kong, to trade at US$28,558, according to CoinMarketCap data.
As the world’s largest corporate Bitcoin holder, MicroStrategy’s Bitcoin acquisition could boost sentiment among crypto investors.
Saylor stepped down from his role as CEO to become executive chairman last August, and to focus on the company’s “Bitcoin acquisition strategy and related Bitcoin advocacy initiatives.”
Following news of the purchase, Microstrategy’s shares rose 0.53% during the day to trade at US$298,98 at 8:30 p.m. in Hong Kong. MicroStrategy’s shares have risen over 106% year-to-date, while Bitcoin values strengthened 71% in the same period.
