MicroStrategy Increases BTC Holdings with $5.9M Purchase, Raising Total to $6.6B

MicroStrategy Bought Another $5.9M Worth of BTC, Bringing Total Holdings to $6.6B

MicroStrategy Bought Another $5.9M Worth of BTC, Bringing Total Holdings to $6.6B

Tech company MicroStrategy has expanded its Bitcoin (BTC) holdings to a total of 174,530 BTC, valued at about $6.65 billion.

MicroStrategy’s founder and chairman, Michael Saylor, announced on Twitter that the company recently acquired an additional 16,130 BTC for $593.3 million, bringing the total cost of their Bitcoin investment to $5.33 billion. This means that MicroStrategy is currently sitting on an unrealized profit of 25.3%, or approximately $1.35 billion.

MicroStrategy became the largest corporate holder of Bitcoin after entering the market in August 2020 during the COVID-19 pandemic. Saylor, who was CEO at the time, advocated for Bitcoin as a hedge against inflation and a means to maximize shareholder returns, given the company’s significant cash reserves. Saylor also consistently highlights Bitcoin’s superiority over real estate and gold, as a reliable store of value and an appealing long-term investment asset with greater potential for appreciation compared to holding cash.

This strategy has proven successful so far, with MicroStrategy’s stock surging by 238% since adopting the “Bitcoin standard.” Saylor has emphasized that investing in MicroStrategy shares provides exposure to the cryptocurrency market.

MicroStrategy’s stock, listed as MSTR on the Nasdaq, is currently priced at $498.30 per share, reflecting a 1.74% decrease from the previous day. However, the shares are up 16.79% over the past month.

Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.


Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
DMCA compliant image

Leave a Comment