Michael Saylor’s MicroStrategy Continues Bitcoin Buying Spree with Latest $29 Million Purchase.
MicroStrategy, an American business intelligence firm, just added an additional 1,045 Bitcoin to its portfolio, worth around $29.3 million! That brings their total Bitcoin stash to a whopping 140,000 BTC, acquired for approximately $4.17 billion.
MicroStrategy’s executive chairman, Michael Saylor, is a huge advocate for Bitcoin, and he believes that it’s the most reliable store of value out there. He’s been leading the charge for corporations to invest in Bitcoin as a strategic asset, and it looks like his message is getting through loud and clear.
Saylor’s team at MicroStrategy has been busy making moves in the crypto world. In March, they repaid their Silvergate loan and bought a cool 6,500 BTC. And now, they’ve added even more to their collection. It seems like they’re using a dollar-cost averaging strategy, but with massive amounts of money.
This isn’t MicroStrategy’s first rodeo either. They made their first Bitcoin purchase back in August 2020 and have been steadily adding to their holdings ever since. With over $12.6 billion in Bitcoin, it’s clear that MicroStrategy is all in on the long-term potential of cryptocurrency.
Clever Robot News Desk 6th April 2023