MicroStrategy bought another $350 million worth of bitcoins

MicroStrategy bought another $350 million worth of bitcoins

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Author: Robert Strickland (crypto-journalist)
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MicroStrategy bought another $350 million worth of bitcoins
Michael Saylor's MicroStrategy bought $350 million worth of bitcoins between April and June
The largest corporate Bitcoin holder reported buying another batch of the cryptocurrency between April and June

Michael Saylor's MicroStrategy purchased another 12,333 bitcoins totaling $347 million, according to a filing with the U.S. Securities and Exchange Commission (SEC), the cryptocurrency was purchased between April 29 and June 27 at an average price of about $28,136 per BTC.

The latest purchase brought the company's total bitcoin holdings to 152,333 BTC, or roughly $4.6 billion at the time of publication. The company paid a total of about $4.52 billion for these bitcoins, with an average purchase price of about $29,668 per BTC, including fees and other expenses.

By the end of the first quarter of this year, the company brought its cryptocurrency reserves to 140,000 BTC. In aggregate, the company paid $4.17 billion for them at an average purchase price of $29,803 per bitcoin.In April, MicroStrategy acquired another 1,045 bitcoins for a total of $23.9 million.

In May, MicroStrategy reported strong financial results for the first quarter of the year, likely helped by the cryptocurrency's rally. The reporting showed a net income of $461.2 million, compared to a net loss of $130.8 million in the same quarter a year earlier and a net loss of $249.7 million in the fourth quarter of 2022.

MicroStrategy is the largest corporate holder of bitcoins. Marathon Digital, a mining company, and Coinbase, the second-largest cryptocurrency exchange, are also among the top three publicly traded companies in terms of this cryptocurrency's reserves.

 

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