MicroStrategy Doubles Down on Bitcoin, Acquires 14,620 BTC for $615.7 Million

MicroStrategy, the business intelligence company known for its aggressive Bitcoin (BTC) purchases, has struck again. On December 26, 2023, the company announced it had acquired an additional 14,620 BTC for $615.7 million in cash, at an average price of $42,110.

This latest purchase brings MicroStrategy’s total Bitcoin holdings to a whopping 189,150 BTC, acquired at an approximate cost of $5.9 billion and an average price of $31,168 per Bitcoin. MicroStrategy’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin for years, and the company’s investment strategy reflects this unwavering belief.

Saylor’s conviction in Bitcoin’s long-term potential remains unshaken, despite the cryptocurrency’s recent price volatility. In a statement accompanying the announcement, Saylor noted, “We believe that Bitcoin is the world’s most valuable asset class and that it will continue to appreciate significantly over time.”

MicroStrategy’s latest purchase is a clear signal of the company’s confidence in Bitcoin’s future. It also highlights the growing institutional interest in cryptocurrency, as more and more companies are beginning to see Bitcoin as a valuable hedge against inflation and a store of value.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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