MicroStrategy made a statement about its recent Bitcoin asset purchases

Michael Saylor, co-founder and president of MicroStrategy Bitcoin He shared an important update on his reserves. According to Saylor’s announcement, MicroStrategy ( MSTR ) further increased its cryptocurrency holdings by purchasing an additional 11,931 Bitcoin (BTC) worth $786 million. This purchase was made using proceeds from convertible bonds and excess cash. The purchase was made at an average price of approximately $65,883 per BTC.

According to the application made to the United States Securities and Exchange Board (SEC), these Bitcoins were received between April 27 and June 19. This marks the third-largest Bitcoin purchase, following MicroStrategy’s purchase of 12,000 tokens for $821 million on March 11.

With this valuable acquisition, MicroStrategy’s Bitcoin assets grew even further. As of June 20, 2024, the company has a total of 226,331 BTC. These Bitcoins were worth a total of $8.33 billion, with an average price of $36,798.

MicroStrategy’s decision to expand its Bitcoin holdings coincided with a period of stagnant price movements in the crypto market. In mid-March, Bitcoin reached an all-time high of over $73,000, but then experienced a slight decline.

Led by Michael Saylor, MicroStrategy continues to solidify its position as one of the largest institutional holders of Bitcoin in the cryptocurrency world.

This news was first published on the Coin Engineer website.