MicroStrategy has added $29 million worth of bitcoins

MicroStrategy has added $29 million worth of bitcoins

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Author: Robert Strickland (crypto expert)
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MicroStrategy has added $29 million worth of bitcoins
The company, founded by Michael Saylor, now has 140,000 bitcoins on its balance sheet. They cost MicroStrategy about $4.17 billion with an average purchase price of $29,803

From March 24 to April 4, MicroStrategy added 1,045 bitcoins worth $29.3 million at an average price of about $28,016 per bitcoin.

As of April 4, the company founded by Michael Saylor, along with its subsidiaries, owned about 140,000 bitcoins ($3.99 billion at an April 5 exchange rate of $28,500). Collectively, the company paid $4.17 billion for them at an average purchase price of $29,803 per bitcoin, including the cost of acquiring the asset.

MicroStrategy, a U.S.-based company, works in enterprise analytics, develops software, and provides cloud services. Michael Saylor, whose fortune Forbes estimates at $1.2 billion, is known for his active interest in the first cryptocurrency - he has been consistently buying bitcoin since 202.

Saylor stepped down as MicroStrategy's CEO in the summer of 2022 but continued to serve as chairman of the company. This allowed him to focus more on MicroStrategy's Bitcoin acquisition strategy and related initiatives.

The company has continued to buy the first cryptocurrency and lowered its average purchase price in recent months. As of March 23, MicroStrategy's average price of bitcoins purchased was about $29,817 per BTC, down from $30,397 as of December 27 last year.

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