News

MicroStrategy Purchases 328 Additional Bitcoins, BTC Price Rises in Response

The purchase was announced on the 1st of March by MicroStrategy CEO, Chairman, and Co-Founder, Michael Saylor. According to Saylor, MicroStrategy bought 328 bitcoins for ~$15 million in cash, at an average price of about $45,710 per Bitcoin. Saylor’s tweet reveals that MicroStrategy’s total 90,859 BTC portfolio was acquired for about $2.186 billion, averaging about $24,063 per bitcoin.

On the 24th of February, the Nasdaq-listed company announced that it bought 19,452 BTC, worth more than $1 billion. The purchase valued each coin at an average of $52,765 and pushed the company’s total holdings to 90,531 BTC. At the time, Saylor said that the continuous acquisition of bitcoin is one of two major strategies the company is focused on.

Image Credits: Pixabay

Leave a Reply

Your email address will not be published.