MicroStrategy Spends $29.3M to Buy More BTC

Business intelligence firm MicroStrategy has acquired an additional 1,045 BTC, as announced by the company’s founder, Michael Saylor.

According to a report to the US Securities and Exchange Commission, the purchase was made between March 24 and April 4, 2023, at an average price of $28,016, for a total of $29.3 million.

With this acquisition, MicroStrategy now holds 140,000 BTC worth around $4.17 billion at $29,803 per BTC.

This latest purchase comes after MicroStrategy’s previous investment of $150 million in March, which saw the company acquire 6,455 BTC. The current price of Bitcoin is $28,500, according to CoinGecko.

In February, MicroStrategy reported a quarterly loss of $249 million and disclosed raising $46.6 million since September 2022.