The software company remains bullish on Bitcoin, adding another $150 million in Bitcoin to its holdings since August.
MicroStrategy, an enterprise software company founded by Michael J. Saylor, has purchased a further 5,445 BTC, approximately $150 million, a September 25 regulatory filing shows.
The company now holds 158,245 BTC ($4.68 billion), and is the largest institutional holder of the pioneer cryptocurrency.
The filing states, “MicroStrategy, together with its subsidiaries, acquired approximately 5,445 bitcoins for approximately $147.3 million in cash, at an average price of approximately $27,053 per bitcoin, inclusive of fees and expenses.”
The purchase was made from August 1 to September 24.
MicroStrategy (NASDAQ: MSTR) is the largest publicly traded business intelligence company in the world. It reportedly issued and sold 403,362 MSTR shares to fund its purchase.
MicroStrategy’s co-founder Michael J. Saylor is notably bullish on Bitcoin. The company started purchasing the crypto in 2020, maintaining that it will help the company hedge against inflation.
On August 1, CryptoPlug reported that MicroStrategy returned to profitability after it publishing its Q2 earnings report. Throughout the second quarter of 2023, the company’s share prices increased by 200%, and its revenue from subscription services increased by 42%.
Read more: Microstrategy returns black, Q2 earnings report brings good tidings
In the same timeframe, the company added 12,800 BTC to its holdings, costing around $361.4 million for an average price of $28,233
Disclaimer: CryptoPlug does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
