Resume:
- MicroStrategy added to its massive Bitcoin coffers with a $347 million purchase.
- The company bought another 12,333 BTC at an average price of $28,136 per coin, said founder and chairman Michael Saylor.
- MicroStrategy now owns 152,333 Bitcoins worth approximately $4.6 billion, further cementing the company as the largest corporate holder of BTC.
MicroStrategy expanded its BTC holdings after spending $347 million in cash between April 29 and June 27 to purchase 12,333 Bitcoins. submit The US Securities and Exchange Commission announced this on Wednesday.
The company added to its last BTC holding at an average price of $28,136 per BTC. Wednesday’s revelation follows a purchase of 1,045 Bitcoins bought for $29.3 million two months ago in April.
This means that MicroStrategy, the largest corporate holder of BTC, now owns some 152,333 coins purchased at an average price of $29,668 including fees. The company has spent approximately $4.52 billion purchasing its BTC and its Bitcoins are worth more than $4.6 billion at current market prices.
Bitcoin was trading above $30,000 on Wednesday, supported by spot ETF filings from institutions like BlackRock, WisdomTree and Invesco.
MicroStrategy increases Bitcoin’s position as the number of ETF applications increases
Although MicroStrategy has been buying Bitcoin since 2020, the company’s latest acquisition comes as institutions race to provide US investors with America’s first Bitcoin Spot exchange-traded fund.
Indeed, Wall Street titans like BlackRock have filed for a Bitcoin Spot ETF with the Securities and Exchange Commission. Other players such as WisdomTree and Invesco followed suit with respective applications. Fidelity, another giant asset manager with trillions in AUM, is expected to file its application on Tuesday.
Banks and trillion-dollar institutions are also benefiting from Bitcoin exposure by betting on MicroStrategy stock MSTR. BlackRock owns a staggering 6% stake in Michael Saylor’s company and owns MSTR shares worth more than $150 million.
