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Breaking Michael Saylor’s MicroStrategy Just Bought More Than $347 Million in Bitcoin

1 min
Updated by Ali M.
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In Brief

  • Michael Saylor's MicroStrategy has purchased an additional 12,333 bitcoins for $347 million, according to SEC filings.
  • The acquisition brings the company's total Bitcoin holdings to around 152,333, worth approximately $4.6 billion.
  • The company's Bitcoin buying spree, regardless of market conditions, signals a future-oriented commitment to crypto.
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Michael Saylor’s MicroStrategy has further consolidated its position as one of the largest corporate holders of Bitcoin.

As per recent SEC filings, the company added another 12,333 Bitcoin to its portfolio, shelling out a staggering $347 million.

MicroStrategy’s Bitcoin Buying Spree

The average purchase price for MicroStrategy’s latest batch of Bitcoin was around $28,136. This number denotes the company’s ability to capitalize on market fluctuations to maximize return.

The latest acquisition period spanned from April 29 to June 27. Consequently, increasing MicroStrategy’s total Bitcoin holdings to approximately 152,333, valued at an astonishing $4.6 billion, based on the current Bitcoin price of around $30,300.

MicroStrategy Buys Bitcoin
Companies Banking on Bitcoin. Source: Statista

Despite the cryptocurrency market’s volatility, the latest purchase underscores MicroStrategy’s unwavering confidence in Bitcoin. Since its first investment in Bitcoin, MicroStrategy has purchased Bitcoin at an average price of around $29,668, including fees and expenses, totaling an overall investment of around $4.52 billion.

The magnitude of MicroStrategy’s Bitcoin buying spree is highlighted further when considering its previous buy in April. The company acquired an additional 1,045 Bitcoin for $23.9 million at the time.

Regardless of market conditions, the enterprise software company’s unabashed drive to buy Bitcoin signals a strong, future-oriented commitment to crypto. This move may well set a precedent for other companies.

This is a developing story…

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Bary Rahman, a talented journalist, graduated from New York University with a degree in Journalism. Skilled in SEO, she has worked with CNN, showcasing her investigative skills and storytelling abilities. In addition to her journalistic accomplishments, Bary has contributed her expertise as a content writer for Binance, crafting insightful articles on the dynamic crypto industry. Her unique fusion of journalism and SEO makes her a versatile and highly respected figure in the industry.
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