MicroStrategy Bolsters Bitcoin Holdings with $155.4 Million Purchase

MicroStrategy Inc., the enterprise software company renowned for integrating Bitcoin into its corporate strategy, has recently bolstered its cryptocurrency portfolio with an additional acquisition of approximately 3,000 Bitcoin tokens, amounting to $155.4 million. With this latest purchase, the value of the company's holdings, headquartered in Tysons Corner, Virginia, now stands at approximately $9.88 billion, as per prevailing currency market rates. The acquisitions were executed with cash between February 15 and February 25, as reported in a filing with the US Securities and Exchange Commission on Monday. Consequently, MicroStrategy's total Bitcoin reserve has climbed to approximately 193,000 tokens.

Michael Saylor, the chairman and co-founder of MicroStrategy, initiated the company's foray into Bitcoin investment back in 2020, viewing it as both a hedge against inflation and an alternative to holding traditional cash reserves. In a recent interview on Bloomberg TV, Saylor reiterated the company's commitment to its Bitcoin holdings, emphasizing that there's "no reason to sell the winner." Since Saylor's initial investment, Bitcoin has surged by approximately 460%.

The average acquisition price for the recent Bitcoin purchase stands at $51,813 per token, while the average price for the entire holding is reported at $31,544, according to the filing. On Monday, Bitcoin's value remained relatively stable at around $51,379.

Earlier this month, the value of MicroStrategy's Bitcoin holdings briefly exceeded $10 billion, coinciding with Bitcoin's surge to a more than two-year high in price.