Friday, May 24, 2024

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MicroStrategy Makes Its Fourth-Largest Bet on Bitcoin

US-listed software corporation MicroStrategy has made its fourth-largest investment in bitcoin (BTC), bringing its total holdings to BTC 121,044 USD (USD 6.92bn).

This time, according to CEO Michael Saylor, they paid USD 414 million for BTC 7,002.

The corporation has already spent USD 3.57 billion buying BTC, paying an average of USD 29,534 per BTC.

As of 13:12 UTC, the fresh acquisition announcement from MicroStrategy looks to have provided the bitcoin price some support. At press time, BTC was trading at USD 57,174, up 0.5 percent in the 15 minutes since the announcement.

BTC was still trading at almost the same level an hour later, at 14:12 UTC, after briefly exceeding USD 57,400.

In any event, MicroStrategy’s statement today is the fourth-largest USD purchase of bitcoins since the business originally said that it “adopts bitcoin as a major treasury reserve asset.”

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