MicroStrategy, an American business intelligence firm, has announced yet another Bitcoin acquisition, adding an additional 1,045 BTC to its portfolio for approximately $29.3 million. This brings the company’s total Bitcoin holdings to 140,000, acquired at an average price of $29,803 per BTC for a total of approximately $4.17 billion. The news was shared by MicroStrategy’s executive chairman, Michael Saylor, in a tweet on April 5.
Saylor has been a vocal proponent of Bitcoin, encouraging corporations to adopt cryptocurrency as a strategic asset. However, he believes that Bitcoin is the most secure and reliable store of value available in the market today and that it offers an excellent opportunity for businesses to protect their assets from inflation.
MicroStrategy appears to be implementing a dollar-cost averaging strategy for its Bitcoin purchases, with substantial sums of money being invested at regular intervals. The company recently repaid its Silvergate loan and purchased 6,500 BTC at the end of March.
It is essential to know that MicroStrategy made its first Bitcoin purchase in August 2020 and has been consistently adding to its holdings ever since. With a total Bitcoin investment of over $12.6 billion, the company’s continued investment in the cryptocurrency demonstrates its confidence in its long-term potential as a valuable asset.
