MicroStrategy Buys Over $600M of BTC

In November, Microstrategy, the leading corporate holder of Bitcoin, significantly increased its holdings by purchasing 16,130 BTC, worth approximately $608 million at current market prices.

According to a regulatory filing released on Thursday, the software developer, founded by Michael Saylor, acquired the BTC for $593.3 million in cash, with an average price of $36,785 per coin.

This brings their total holdings to 174,530 BTC, which were purchased at an average cost of $30,252 per coin.

The November purchase demonstrates a notable uptick in Microstrategy’s bitcoin buying activity.

As of the end of October, the company held 158,400 BTC, having obtained 6,607 BTC since the start of the third quarter.