MicroStrategy, a leading business intelligence and software company, continues its firm commitment to Bitcoin by purchasing an additional 122 BTC in April for a total of $7.8 million, its founder and chairman said. michael saylor announced today.
Breaking news: MicroStrategy acquires 122 more #bitcoin For $7.8 million. pic.twitter.com/IZWUNj0kHY
— Bitcoin Magazine (@BitcoinMagazine) April 29, 2024
“As the world’s first Bitcoin developer, MicroStrategy is committed to the continued advancement of the Bitcoin network through financial market activism, advocacy, and technological innovation.” Said Phong Le, President and CEO of MicroStrategy, said: “Thanks to our proprietary Bitcoin strategy and solid track record as a commercial company, we currently hold 214,400 Bitcoins at an average purchase price of $35,180 per Bitcoin.”
The company first entered the Bitcoin market in August 2020 with a hefty initial investment of $250 million in BTC. Since then, they have continually increased their Bitcoin holdings and built a financial reserve strategy, accumulating over 214,400 Bitcoins worth over $15.5 billion as of this writing.
“In the first quarter, we raised more than $1.5 billion by re-executing our capital markets strategy, including two successful convertible debt offerings,” said Andrew Kang, MicroStrategy’s chief financial officer. says. “Since the end of the fourth quarter, we have acquired an additional 25,250 Bitcoins and added Bitcoin to our balance sheet for 14 consecutive quarters. We believe that Bitcoin offers a unique opportunity for value creation for shareholders since the beginning of the year, with the price of Bitcoin increasing significantly, especially with the approval of spot Bitcoin exchange-traded products, increasing demand from institutional investors. , spurred by greater regulatory clarity.”
After Bitcoin underwent its fourth halving less than two weeks ago, with mining rewards halved from 6.25 BTC to 3.125 BTC per block, MicroStrategy continues its aggressive BTC investment strategy with no signs of slowing down. Masu.
