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- MicroStrategy buys additional Bitcoin worth $147.3 million
- The company’s Bitcoin billboards were worth more than $4 billion
MicroStrategy’s bullish stance on Bitcoin [BTC] continues to maintain a strong position. The US business intelligence company has deposited another $147.3 million in fiat money to buy more Bitcoin. The recent buying spree added 5445 BTC to its existing Bitcoin chest.
Read Bitcoin’s [BTC] Price forecast 2023-24
According to the SEC filing made on Monday (September 25), the purchase of these additional coins took place between August 1 and September 24. The coins were purchased for an average price of approximately $27,053 per BTC, including fees. The recent purchase also brought MicroStrategy’s Bitcoin holdings to 158,245. At today’s value, these Bitcoins are worth over $4 billion.
The SEC filing stated:
“As of September 24, 2023, MicroStrategy, together with its subsidiaries, owned an aggregate of approximately 158,245 bitcoins, which were acquired at an aggregate purchase price of approximately $4.68 billion and an average purchase price of approximately $29,582 per bitcoin, including fees and expenses. expenditure.”
MicroStrategy topped the list for its BTC purchase
Remarkably, the latest revelation had no effect on the price of the king’s coin. According to CoinMarketCap, BTC was trading at $26,235 at the time of writing, with no significant changes in the past hour or day. Trading volume for the cryptocurrency exceeded $12 billion, while the change over the past seven days showed a negative 3.78%.
According to CoinGecko, this Bitcoin hamster series has put MicroStrategy first among US publicly traded companies with the largest Bitcoin portfolios. Meanwhile, other prominent companies with large BTC portfolios include Tesla, Marathon Digital Holdings, Galaxy Digital Holdings and Coinbase.
Interestingly enough, the purchase of MicroStrategy occurred at a time when spot Bitcoin ETF was at the peak of the market. Several companies were awaiting a decision on their spot BTC ETF application, including Blackrock – one of the largest investment managers.
However, on the last day of August, the SEC announced that it would postpone its decision on the applications. Nevertheless, many market analysts have an optimistic attitude towards the SEC’s decision, which is due in October 2023.