Unstoppable? MicroStrategy buys Bitcoins for US$150 million

Michael Saylor has gone shopping once again. Microstrategy, Saylor's company, is buying another 5,445 BTC for an equivalent value of nearly US$150 million. MicroStrategy's holdings thus rise to 158,245 BTC.

The announcement was made by Michael Saylor himself on Twitter. This brings the company's total holdings to 158,245 BTC. At the time of writing, that's worth a sloppy $4.7 billion. In fact, the average price for Bitcoin is US$27,000.

This is not the first time this year that Microstrategy has made Bitcoin purchases. It is the third purchase of BTC in 2023. In April 2023, it bought about 1,000 Bitcoin. In June, the company followed with 12,333 BTC for $350 million.

MicroStrategy is the second largest institutional holder of Bitcoin after Grayscale (about 643,000 BTC, as of August 2022). Want to read more about Grayscale? Then read this blog article about Grayscale and its impact on the crypto sector.