MicroStrategy, led by Michael Saylor, bought 5,445 Bitcoin

• MicroStrategy recently added 5,445 Bitcoin to its portfolio, totaling 158,245 BTC.
• The firm’s Bitcoin holdings exceed $4.68 billion as of September 24th.
• In Q1 2023, MicroStrategy invested $361.4 million to acquire 12,800 BTC.

MicroStrategy, a US-based company led by Michael Saylor, has recently added 5,445 Bitcoin to its portfolio, positioning it as one of the biggest institutional holders of BTC. The company’s chairman, Michael Saylor, reported that the latest acquisition was made at an average cost of $27,053 per Bitcoin, amounting to an approximate total investment of $147.3 million.

In his latest update, Saylor disclosed that as of September 24th, the company had accumulated 158,245 BTC. Based on a Bitcoin price of $29,582, the total value of the firm’s holdings exceeds $4.68 billion.

Relying on Bitcoin in Banking

MicroStrategy’s persistent positive stance on Bitcoin acquisition provides confidence to the overall market. Despite the mixed reactions it has garnered, the company has maintained its commitment to Bitcoin, amassing a significant reserve of the cryptocurrency, thereby solidifying its standing in the crypto industry.

In Q1 2023, the firm invested $361.4 million to acquire 12,800 BTC, with an average cost of $28,233 per unit. Concurrently, MicroStrategy’s stock experienced a 200% surge. Additionally, the company recorded a 4% annual growth in business sales and a 42% rise in its subscription services sales.

MicroStrategy’s approach to cryptocurrency is spearheaded by the forward-thinking Michael Saylor, a vocal advocate for Bitcoin’s capacity as a wealth preservation tool and protection against inflation. In August 2020, MicroStrategy initiated its first Bitcoin acquisition, marking the beginning of Saylor’s journey into the world of Bitcoin.