Outside Source
The world’s largest corporate bitcoin holder – MicroStrategy – has reinstated its BTC-buying policy and has spent another $150 million to acquire just under 5,500 BTC.
Nevertheless, the company’s entire bitcoin position is still underwater, at least theoretically, as the asset’s price struggles at $26,000.
- Michael Saylor – MicroStrategy’s founder and former CEO – announced the latest acquisition on X, indicating that his brainchild spent $147.3 million to acquire 5,445 BTC at an average price of $27,053.
- This means that the firm’s total BTC stash has grown to 158,245. In total, MicroStrategy spent $4.68 billion (at an average price of $29,582 per BTC), which means that its position is currently in the red.
- This is because bitcoin’s price has failed to gain any real traction recently and even fell to a multi-week low of $26,000 earlier today.
- As such, MicroStrategy’s entire bitcoin holding is currently valued at just over $4.1 billion.
MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv
— Michael Saylor⚡️ (@saylor) September 25, 2023
- Recall that the once Saylor-spearheaded firm started its accumulation spree in August 2020 and just recently celebrated its third anniversary as a bitcoin-buying and holding company.
This article first appeared at CryptoPotato
