MicroStrategy, known for its voracious appetite for Bitcoin, has once again bolstered its cryptocurrency treasury.
The firm acquired an additional 5,445 BTC, bringing its total Bitcoin holdings to 158,245 BTC, now valued at an astounding $4.6 billion(1).
Titled “A Great Buy at Any Price,” this latest purchase was made at an average price of $27,053 per BTC, aggregating to $147.3 million for this batch of Bitcoins.
This new acquisition has effectively brought down the average purchase price on the entire lot of coins they own. The revised average purchase price now stands at $29,582 per Bitcoin.
Furthermore, this purchase augments their total share of all Bitcoins from .728% to .754%.
This bold move continues to cement MicroStrategy’s narrative of acting akin to a Bitcoin Spot ETF without the legal title.
The firm’s consistent Bitcoin acquisitions, even resorting to debt financing and additional stock issuance, showcase its unwavering commitment to bolstering its Bitcoin holdings.
This strategy, although not officially an ETF, embodies a similar ethos, enabling MicroStrategy to grow its cryptocurrency treasury at a regular pace, demonstrating the firm’s robust confidence in Bitcoin’s long-term value proposition.
➤ MORE: MicroStrategy's Bitcoin Treasury
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