- MicroStrategy Corporation disclosed in its most recent SEC filing about the addition.
- The firm bought 1,045 Bitcoin between March 24 and April 4, 2023.
Amid ongoing growing unease in the conventional market and the financial sector, the global digital market continues to enjoy an upward rise. The largest cryptocurrency by market cap, Bitcoin (BTC), is driving the market to green indices.
MicroStrategy Corporation disclosed in its most recent SEC filing that it has increased its Bitcoin holdings. When Bitcoin (BTC) printed green candles, causing the price to rise beyond $28,000, that’s when investors started piling in.
According to the reports, MicroStrategy bought an extra 1,045 Bitcoin between March 24 and April 4, 2023. The aggregate value of purchased Bitcoin is now $29.3 million. The average cost per Bitcoin throughout the accumulation phase was $28,016.
Banking on Bullish Rally
It was also revealed that as of April 4, 2023, a total of 140,000 Bitcoins were owned by MicroStrategy and its affiliates. The total acquisition price is listed on the paperwork as roughly $4.17 billion. On the other hand, the average purchase price of a Bitcoin is around $29,803.
During the previous 30 days, Bitcoin’s price has increased by nearly 28%, allowing it to reclaim the key $28,000 mark. At the time of writing, the price of Bitcoin was $27,986 as per CMC. It was previously stated that between February 16th, 2023, and March 23rd, 2023, MicroStrategy purchased 6,455 BTC. All total, the haul amounted to over $150 million in cash.
According to its SEC filings, MicroStrategy paid around $29,803 per Bitcoin on average. But, as of this now, one bitcoin is worth around $27,986. This points to a clear shortfall and signals that the firm’s stake is still making a loss.
