February 26, 2024

MicroStrategy's Latest Bitcoin Acquisition: Adds 3,000 BTC, Total Holdings Now Worth $10 Billion

MicroStrategy's recent acquisition of 3,000 bitcoin catapults its total holdings to $10 billion, with a remarkable $4 billion in unrealized profits.

MicroStrategy (MSTR), the foremost corporate holder of bitcoin, has expanded its crypto portfolio with a significant purchase of 3,000 BTC for $155 million. This acquisition, completed between February 15th and 25th, elevates the company's total bitcoin holdings to an impressive 193,000 coins.

According to an official filing with the Securities and Exchange Commission (SEC), these new acquisitions were secured at an average price of $51,813 per BTC. Michael Saylor, the Executive Chairman of MicroStrategy, confirmed via X that the company's bitcoin treasury now stands at 193,000 coins, acquired for a total of $6.09 billion. This translates to an average acquisition cost of $31,544 per BTC.

Given the current market value of bitcoin at $54,500 per coin, MicroStrategy finds itself sitting on an unrealized profit of approximately $4 billion.

Following this announcement, MSTR shares have experienced a notable surge, with a more than 15% increase since Monday morning. This bullish momentum underscores the market's confidence in MicroStrategy's strategic approach towards bitcoin investment and its potential for long-term growth.

Stay Connected
Join the conversation on 𝕏
@ahapcrypto
Make a Difference
Support our content creators
and help us stay ad-free
BTC: bc1q6nt2u2u539kjgfn5hj8g9f8xk2hnwuudlrlnr9
Cryptocurrency news & learning platform
All Rights Reserved © 2024