Business intelligence company MicroStrategy continues to cement its status as the world’s largest corporate holder of Bitcoin (BTC) with the latest purchase of the flagship digital asset.
In a new thread, MicroStrategy founder Michael Saylor says say that the company purchased another 850 BTC in January for a price of approximately $37 million.
The acquisition brought the company’s total Bitcoin holdings to 190,000 BTC for a total of $5.93 billion, or $31,224 per Bitcoin, earlier this week, according to a press release by MicroStrategy.
As Phong Le, MicroStrategy’s president and CEO, states in a revenue callingaccording to The Motley Fool.
“Today, MicroStrategy is the largest corporate holder of Bitcoin in the world, holding 190,000 Bitcoins with a total Bitcoin market value of $8.1 billion as of yesterday.
In 2023, we acquired 56,650 Bitcoins for a total purchase amount of $1.9 billion, an average price of $33,580. We have purchased another 850 so far in 2024 [BTC] for a total purchase price of $37 million.
Over the past year, we have seen Bitcoin continue to mature as an institutional-quality asset class, with broader regulatory recognition and institutional adoption.”
In the earnings call, Saylor confirms that MicroStrategy will do everything in its power as a company to further develop the Bitcoin network and continue to accumulate the crypto king.
“The question is what will MicroStrategy do to support the Bitcoin network and allow our shareholders to benefit from these trends? Well, as you can see, and as we said, we consider ourselves a Bitcoin development company. And then – what does that mean?
This means that we will do everything we can to grow the Bitcoin network. We’re going to do everything we can to acquire more Bitcoin, and we’re going to do everything we can to benefit our shareholders and do it in a positive way. And when we consider our options and our unique strengths, we come up with four.”
Bitcoin is trading at $44,509 at the time of writing, a gain of 3.08% over the past 24 hours.
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Generated image: Midjourney