- Michael Saylor reported that MicroStrategy has acquired 3,000 BTC.
- The company spent $155 million to purchase the first cryptocurrency.
- The assets were purchased between February 15 and February 24, 2024.
MicroStrategy has additionally acquired 3,000 BTC, said Michael Saylor, founder of the tech giant. The purchase transactions took place between February 15 and February 24, 2024.
MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoin. As of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR https://t.co/micudbYf3P
- Michael Saylor⚡ (@saylor) February 26, 2024
The entrepreneur noted that the assets were purchased at an average cost of $51,813 per 1 BTC. In total, the company spent $155 million on bitcoin purchases.
According to Saylor, MicroStrategy now owns 193,000 BTC. The value of the company’s bitcoin reserves is approximately $9.9 billion.
Representatives of the firm note that they acquired their first cryptocurrency with proceeds from MicroStrategy stock. In a press release, the company said it issued and sold 1,272,077 securities totaling $750 million.
Earlier, Michael Saylor said that he has no plans to sell MicroStrategy bitcoins. According to him, the first cryptocurrency is “an exit strategy and the strongest asset.” Saylor also compared the digital asset to tech giants such as Apple, Google and Microsoft.
On top of that, the entrepreneur believes that the demand for bitcoin investment products is 10 times greater than the available supply in the market. As proof of his words, he cited the high demand for spot cryptocurrency ETFs approved on January 10, 2024.
Recall, we wrote that unknown people hacked MicroStrategy’s account in the social network X (formerly Twitter).
