MicroStrategy bought more bitcoin in October
MicroStrategy founder Michael Saylor said his company acquired another 155 bitcoins for $5.3 million in October, a month marked by a surge in the price of the most popular cryptocurrency.
Saylor also said in a post on X, in which he also released the company's third-quarter earnings, that MicroStrategy now holds 158,400 bitcoins. More than a month ago, the company said in a filing that it had purchased 5,445 bitcoins for $147.3 million — at an average price of $27,053 per bitcoin — between August 1 and September 24.
This allowed MicroStrategy to make quick profits on its recently purchased bitcoin as the price of the digital asset soared in October, nearly reaching $35,000 at one point. Bitcoin is currently just below that figure amid excitement that a spot bitcoin ETF will soon get the necessary approval before investors can pour money into the new financial instrument.
