{"id":22863,"date":"2023-09-25T12:56:06","date_gmt":"2023-09-25T12:56:06","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/microstrategy-buys-147m-worth-of-bitcoin-now-holds-158k-btc\/"},"modified":"2023-09-25T12:56:09","modified_gmt":"2023-09-25T12:56:09","slug":"microstrategy-buys-147m-worth-of-bitcoin-now-holds-158k-btc","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/microstrategy-buys-147m-worth-of-bitcoin-now-holds-158k-btc\/","title":{"rendered":"MicroStrategy buys $147M worth of Bitcoin, now holds 158K BTC"},"content":{"rendered":"

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MicroStrategy, a business intelligence firm and major Bitcoin (BTC) investor, is sending a bullish signal to the market by announcing the acquisition of another big stash of cryptocurrency.<\/p>\n

Michael Saylor, co-founder and executive chairman at MicroStrategy, took to X (formerly Twitter) on Sept. 25 to announce a 5,445 BTC purchase by the firm. The latest Bitcoin stash was bought at an average price of $27,053 per BTC, or for $147.3 million in cash.<\/p>\n

According to a Form 8-K filing with the United States Securities and Exchange Commission, MicroStrategy and its subsidiaries have been in the process of acquiring the amount between Aug. 1, 2023 and Sept. 24, 2023.<\/p>\n

As of Sept. 24, MicroStrategy and its subsidiaries held an aggregate of approximately 158,245 bitcoins, which were acquired at an average purchase price of roughly $29,582 per BTC, inclusive of fees and expenses, the filing notes. The aggregate purchase price for MicroStrategy\u2019s total Bitcoin holdings has amounted to $4.68 billion.<\/p>\n

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MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin<\/a>. As of 9\/24\/23 @MicroStrategy<\/a> hodls 158,245 $BTC<\/a> acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR<\/a> https:\/\/t.co\/GbJtUoQfXv<\/p>\n

\u2014 Michael Saylor\u26a1\ufe0f (@saylor) September 25, 2023<\/a><\/p><\/blockquote>\n

The new purchase comes as Bitcoin trades sideways around $26,000 over the past few weeks. After briefly touching $28,000 on Aug. 29, Bitcoin slipped to as low as $25,000 on Sept. 11. At the time of writing, Bitcoin is trading at $26,081, down 1.9% over the past 24 hours, according to data from CoinGecko. The cryptocurrency is also down around 4% over the past seven days.<\/p>\n

Related: <\/em><\/strong>Bitcoin bought by corporate giants should not be feared \u2014 Michael Saylor<\/em><\/strong><\/p>\n

MicroStrategy\u2019s latest Bitcoin purchase further reaffirms the company\u2019s bullish stance on Bitcoin. The firm previously bought 12,333 BTC for $347 million in June 2023, at an average purchase price of $29,668 per BTC.<\/p>\n

In Q1 2023, MicroStrategy reported its first profitable quarter since 2020 due to a one-time income tax benefit. The company managed to retain profitability in the next quarter, reporting $22.2 million in net income in early August.<\/p>\n

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