MicroStrategy adds to massive bitcoin bet, takes total to 140,000 BTC

MicroStrategy acquired an additional 1,045 bitcoin worth around $29.3 million, it revealed on Wednesday.

MicroStrategy shares have risen 105% year-to-date, while bitcoin is up over 72%. Shares in the firm are viewed by some as a proxy for investing in bitcoin due to its large exposure to the digital asset. MicroStrategy was up 1.3% in pre-market, trading around $303.

Founder and CEO Michael Saylor shared on Twitter that his firm acquired the new bitcoin at an average price of $28,016. The purchases were made between March 24 and April 4 while the crypto market was digesting further regulatory unease as the Commodity Futures Trading Commission (CFTC) brought a case against Binance and its CEO, Changpeng Zhao. 

Today's purchase comes hot on the heels of last week's $150 million buy when the firm also cleared its loan with Silvergate. MicroStrategy and its subsidiaries now hold approximately 140,000 bitcoins — with an aggregate purchase price of approximately $4.17 billion, according to an 8-K filing with the SEC.

Expand Chart