MicroStrategy Adds 6,455 BTC to Its Holdings
MicroStrategy, a leading business intelligence software company, recently acquired 6,455 Bitcoins. The purchase, valued at approximately $150 million, was made at an average cost of $23,238 per bitcoin, according to a recent SEC filing.
Company's Total Bitcoin Investment Surpasses $4 Billion
With this latest acquisition, MicroStrategy now holds 138,955 bitcoins, purchased for an aggregate price of around $4.14 billion. The company disclosed in the SEC filing that it had voluntarily prepaid its $161 million Silvergate loan, originally due on March 23, 2025.
MicroStrategy's History with Bitcoin Investments
Under former CEO Michael Saylor's leadership, MicroStrategy first invested in Bitcoin as a reserve asset in 2020. The decision aimed to hedge against potential inflation and currency devaluation risks. Despite significant losses in 2022, Saylor and MicroStrategy remained committed to investing in the flagship digital asset.
Bitcoin's Current Value and MicroStrategy's Influence
At the time of writing, Bitcoin is trading at $27,936.35 on the Bitstamp exchange, with MicroStrategy's actions impacting its performance. As the company continues to expand its Bitcoin holdings, the long-term success of its ongoing investment strategy in the largest digital asset remains to be determined.