- The corporation has grown its Bitcoin holdings to 174,530 BTC as of November 29.
- This follows MicroStrategy’s acquisition of 155 Bitcoin for $5.3 million around a month ago.
Michael Saylor, the chairman of MicroStrategy has announced the purchase of a further 16,130 BTC for about $593.3 million, or $36,785 per Bitcoin.
According to the report, the corporation has grown its Bitcoin holdings to 174,530 BTC as of November 29. These holdings were bought for over $5.28 billion, or $30,252 per Bitcoin, on average. The company has once again shown its optimism over Bitcoin, further solidifying its position among other corporate BTC holders.
Banking Heavy on Bitcoin
This follows MicroStrategy’s acquisition of 155 Bitcoin for $5.3 million around a month ago and highlights the firm’s determination to pursue its Bitcoin plan. Phong Le, CEO of MicroStrategy, has previously said that the company is intent on buying Bitcoin and holding it as it is an exclusive asset.
Le stressed that MicroStrategy’s Bitcoin stance is unaffected by the company’s net loss of $143.4 million, which was generated despite a 3% increase in quarterly sales to $129.5 million.
Michael Saylor is the mastermind behind MicroStrategy’s cryptocurrency strategy. He has long advocated for Bitcoin and its use as a hedge against inflation and store of value. The first time Saylor dabbled with Bitcoin was in August of 2020, when MicroStrategy bought its first BTC.
At the time of writing, Bitcoin is trading at $37,656, down 0.13% in the last 24 hours as per data from CoinMarketCap. Bitcoin has been witnessing strong bullish momentum amidst upcoming halving event in April next year.
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