MicroStrategy Announced That it has Purchased 1045 Bitcoins Worth $29.3 Million

MicroStrategy announced that it has purchased 1,045 Bitcoins worth $29 million between March 24 and April 4. With its latest purchase, MicroStrategy’s total Bitcoin holdings now exceed $4.17 billion.

MicroStrategy revealed that between March 24 and April 4, it spent $29 million to buy 1,045 Bitcoins. With its second acquisition of the year, the US-based business intelligence and mobile software provider increased its Bitcoin holdings to 140,000 and lowered its average Bitcoin price to $29,835. It has previously disclosed the acquisition of 6,455 Bitcoins for almost $150 million.

According to MicroStrategy CEO Michael Saylor, Bitcoin is a hedging asset, and by increasing the business’s BTC holdings, it keeps its lead among institutional companies as the company with the most Bitcoin. The most recent purchase brings MicroStrategy’s total Bitcoin holdings to over $4.17 billion.

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