MicroStrategy Buys More Bitcoin

MicroStrategy Buys More Bitcoin

Investment Bitcoin

By Miles

25 Sep 2023 (8 months ago)

1 min read

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MicroStrategy invests more in Bitcoin, now holding over 158k coins, even as market prices show uncertainty.

MicroStrategy, a top finance software company, has bought more Bitcoin (BTC). Michael Saylor, the company’s CEO, shared on Monday that they now own over 158k bitcoins.

The company added 5,445 bitcoins, spending $147.3 million. Each bitcoin cost them $27,053 on average. In total, they spent $4.68 billion for all their bitcoins, with the average price being $29,582 per coin.

Right now, the price of Bitcoin is about $26,294. This means MicroStrategy's recent buy has lost some value. Some experts believe the Bitcoin price might drop even more, possibly below $25k. But others are hopeful, saying it could rise and hit new high records. 

Many are waiting for big events, like the Bitcoin halving or the approval of a new Bitcoin ETF by the SEC. Big company BlackRock is also interested in this new product.

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