MicroStrategy takes its Bitcoin holdings to 114,000 BTC ($5.1 billion)
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Business intelligence firm MicroStrategy has purchased a further 5,050 bitcoin, taking its total holdings to 114,042 BTC, according to a statement today.
The firm spent $3.16 billion on this entire stash, which has a current value of $5.1 billion — a 42% gain.
Since making several major purchases toward the end of last year and the beginning of this year, the firm has continued to buy smaller amounts over time. This latest bitcoin bump cost the firm $242.9 million at an average price of $48,099. This implies that the firm bought the bitcoin before the price crash on September 7.
MicroStrategy CEO Michael Saylor did not comment on the buy, but ahead of his announcement post about it, tweeted, "Slow and steady wins the race."
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Tim Copeland is the Head of Growth at The Block and host of The Crypto Beat, a live-streaming podcast. He was previously the company's Editor-in-Chief and spent seven years covering the industry as a journalist. Prior to joining The Block, Tim was a news editor at Decrypt. He earned a bachelor's degree in philosophy from the University of York and studied news journalism at Press Association Training. Follow him on X @Timccopeland.
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