MicroStrategy boosts Bitcoin holdings by 27,200 BTC
The purchase is estimated at a current market value of around $2 billion
MicroStrategy, the software and business intelligence firm led by CEO Michael Saylor, announced an increase of 27,200 BTC to its Bitcoin reserves.
This acquisition reinforces the company’s status as one of the largest institutional holders of bitcoin, with a total holding now surpassing 279,420 BTC. The purchase is estimated at a current market value of around $2 billion.
Building on a Bitcoin-first strategy
MicroStrategy’s latest Bitcoin acquisition aligns with the firm’s long-standing commitment to a bitcoin-focused investment strategy. Since it first adopted Bitcoin as a reserve asset in 2020, the company has steadily expanded its holdings, viewing bitcoin as a hedge against inflation and a secure store of value. In a statement posted on social media, Saylor said the last BTC purchase was made at a price of $74,463. He highlighted the strategic importance of these additional holdings, emphasizing the firm’s confidence in bitcoin’s long-term value.
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MicroStrategy’s latest acquisition comes at a time when Bitcoin prices are hovering near new historic highs, reflecting the broader optimism in the cryptocurrency market. The company financed the purchase through a mix of cash reserves and new financing, signaling a robust balance sheet that can support its continued bitcoin accumulation strategy.
Potential Impact on the Market and Institutional Adoption
The purchase underscores an increasing trend of institutional confidence in bitcoin as an investment asset, which could drive further corporate adoption. Some experts suggest that MicroStrategy’s consistent buying behavior could inspire other corporations to consider bitcoin as a strategic asset.
It has also already been reported that MicroStrategy Bitcoin holdings top $20 billion.
