In a testament to its unwavering confidence in Bitcoin (BTC), MicroStrategy, one of the largest Bitcoin holding companies, has once again expanded its cryptocurrency portfolio. The company’s former CEO, Michael Saylor, announced the acquisition of an additional 16,130 BTC, valued at approximately $593 million. This strategic move comes as Bitcoin enters a phase of accumulation above the $37,000 mark. MicroStrategy Adds To Bitcoin Stash As announced, MicroStrategy’s latest purchase was made at an average price of $36,700 per Bitcoin. With this acquisition, the company’s total Bitcoin holdings now stand at an impressive 174,530 BTC. Throughout 2023 and previous years, MicroStrategy has consistently demonstrated its commitment to BTC, accumulating a substantial amount of the cryptocurrency. The total cost of MicroStrategy’s Bitcoin investments exceeds $5.20 billion, with an average purchase price of $30,252 per Bitcoin. This significant investment reflects the company’s long-term bullish outlook on Bitcoin’s potential as a store of value and hedge against inflation. Related Reading: Bitcoin Whales Ready To Push Price Above $40,000? Data Throws Clues As reported by NewsBTC, the company has reaped substantial gains from the recent uptr ..
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