MicroStrategy, led by Michael Saylor, has announced the purchase of an additional 3,000 Bitcoins for approximately $155 million, according to securities filings. The average price per Bitcoin in this latest acquisition was $51,813. Following this move, MicroStrategy’s shares experienced a premarket trading increase of more than 1.8%.
As of February 25, 2024, MicroStrategy now holds a total of 193,000 Bitcoins, acquired for approximately $6.09 billion, with an average price per Bitcoin of $31,544. At current market prices, MicroStrategy’s Bitcoin holdings are valued at just under $10 billion, reflecting a return of nearly 63% on their initial investment.
MicroStrategy has been an active participant in the cryptocurrency space, consistently adding to its Bitcoin holdings over time. The company’s strategic move to allocate a significant portion of its treasury into Bitcoin has become a notable trend among corporations seeking exposure to the digital asset as a store of value. The latest purchase underscores MicroStrategy’s continued confidence in Bitcoin as an essential part of its long-term treasury strategy.