Solomon Samuel 
MicroStrategy Acquires Additional $155M Bitcoin
MicroStrategy acquired $155 million worth of Bitcoins, totaling it’s possession to 193,000 ahead of Bitcoin supply halving.
Michael Saylor, the executive chairman and co-founder of MicroStrategy announced on Monday that the company has recently made a new acquisition of Bitcoins worth $155 million.
This brings the total number of bitcoins that MicroStrategy possesses to 193,000. Michael Saylor made this crucial move ahead of the Bitcoin supply halving and the accumulation of Bitcoin by spot Bitcoin exchange-traded funds.
MicroStrategy Acquires 3000 Bitcoins
As stated in a new filing that was submitted to the United States Securities and Exchange Commission on February 26, MicroStrategy Inc. purchased about 3,000 bitcoins for a total of around $155.4 million in cash.
Between February 15 and February 25, 2024, MicroStrategy purchased Bitcoins at an average price of about $51,813 per digital currency. MicroStrategy and its subsidiaries according to Michael Saylor, have a total of 193,000 bitcoins in their possession.
These bitcoins were purchased for roughly $6.09 billion at an average price of $31,544 per bitcoin. According to the report published on November 30, 2023, it used the revenues from the issue and sale of shares following the sales agreement to make the Bitcoin purchase.
On the 27th of December, the company made its most recent buy which was 14,620 bitcoins for about $615.7 million. Saylor claimed that it stands out owing to its status as an operating company, unlike ETFs that are unleveraged and incur fees.
Saylor claims that he is unfazed by the possibility that an ETF launch could harm MSTR. Over the past hour, the price of Bitcoin has increased by 1% recovering from a 24-hour low of $50,931.
The price is currently trading at $51,410. In the past 24 hours, the low price has been $50,931 and the high price has been $51,950.
Furthermore, trading volume has risen by 10% over the past 24 hours, indicating an increase in interest among traders.
