News - MicroStrategy buys another 16,130 Bitcoin

By Mike Hesp

MicroStrategy buys another 16,130 Bitcoin

Bitcoin (BTC)
Developments
Investing

The signs point to a bull run. MicroStrategy is also confident of a future price rally for Bitcoin - investing $593 million in BTC.

As former MicroStrategy founder Michael Saylor pointed out announced on X (formerly Twitter), the company he founded bought more Bitcoin: MicroStrategy added a total of 16,130 BTC to its holdings.

The technology company paid an average of $36,785 for the 16,130 BTC. The total price of the latest acquisition is $593 million.

MicroStrategy now holds 174,530 BTC with a total value of $5.28 billion. The average price paid per coin was $30,252.

At a current price of $38,702 per Bitcoin, MicroStrategy's BTC portfolio is in the profit zone.

MicroStrategy thus owns about 0.83 percent of the total amount of Bitcoin in circulation.

Michael Saylor stepped down as managing director last August. However, he is still seen as one of the Bitcoin's biggest supporters and is representative of institutional adoption of crypto on a large scale.

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