MicroStrategy BTC holdings balloon to $4.6B as firm invests another $372M News ▸ US ▸ Bitcoin ▸ Investments
MicroStrategy BTC holdings balloon to $4.6B as firm invests another $372M
With an average purchase prices of $29,668 per Bitcoin, MicroStrategy's BTC holdings are at a slight profit.
1 min read
Updated: Jul. 14, 2023 at 7:53 am UTC
MicroStrategy / CC BY 4.0 / Wikimedia. Remixed by CryptoSlate
MicroStrategy has increased its Bitcoin (BTC) holdings by 12,333 BTC, worth around $372 million at current prices, a June 28 filing with the U.S. Securities and Exchange Commission shows.
MicroStrategy’s pool of BTC has ballooned to 152,333 BTC as of June 27. According to CEO Michael Saylor, the largest corporate holder of Bitcoin paid an average of $29,668 per Bitcoin. Therefore, MicroStrategy paid a total of $4.52 billion for its entire BTC stash, Saylor noted.
At current prices, MicroStrategy’s BTC holdings are worth around $4.6 billion, indicating that the firm is slightly in profit.
The move comes a few weeks after Saylor, a self-proclaimed Bitcoin maximalist, said that he expects Bitcoin market share to climb to 80% as other tokens disappear amid regulatory scrutiny.
Bitcoin was trading at $30,152 as of press time, up 4.05% over the past week, according to CryptoSlate data.
A review of on-chain data shows Bitcoin moving between wallets identified as belonging to MicroStrategy throughout June, with funds moving from previously confirmed wallets to a new address, ‘bc1ql49,’ which holds 111,700 BTC at present.
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Monika Ghosh
In 2020, Monika immersed herself in crypto, maintaining skepticism yet firmly believing blockchain could address key issues like financial disparity and transparency. A book-lover, she's also a passionate food enthusiast.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
Michael Saylor is the Executive Chairman, founder, and principal shareholder of MicroStrategy.