MicroStrategy Doubles Down on Bitcoin, Investing $490 Million More
MicroStrategy Incorporated, a leading publicly traded business intelligence firm, has significantly increased its Bitcoin holdings. The company announced the purchase of approximately 13,005 Bitcoins for roughly $490 million in cash. This latest acquisition underscores MicroStrategy’s unwavering commitment to cryptocurrency, particularly Bitcoin, as part of its long-term investment strategy. This move is of interest globally and resonates within the African tech scene, as forward-thinking businesses and individuals are closely following cryptocurrency trends.
MicroStrategy’s Bitcoin Accumulation Strategy
The newly acquired Bitcoin was purchased at an average price of approximately $37,617 per Bitcoin, inclusive of fees and expenses. This brings MicroStrategy’s total Bitcoin holdings to approximately 105,085 Bitcoins. The aggregate purchase price for these holdings is around $2.741 billion, resulting in an average purchase price of approximately $26,080 per Bitcoin. A significant portion of these holdings, around 92,079 Bitcoins, are held by MacroStrategy LLC, a MicroStrategy subsidiary. This latest purchase follows the announcement last week by CEO Michael Saylor of the company’s intention to raise $1 billion through the sale of its Class A Common stock over time, further fueling its Bitcoin acquisition strategy.
In conclusion, MicroStrategy’s continued investment in Bitcoin reflects a strong belief in the digital currency’s potential. This move will be of particular interest to tech businesses and crypto traders across the African continent as they look for opportunities and potential growth in the digital currency landscape.
Keywords
Related Keywords: MicroStrategy Bitcoin, Bitcoin purchase, BTC acquisition, MicroStrategy Bitcoin holdings, MicroStrategy Bitcoin investment, Bitcoin news, Cryptocurrency news, Michael Saylor Bitcoin, MicroStrategy buys Bitcoin, Bitcoin price impact
