MicroStrategy, a leading business intelligence firm based in the United States, has announced its latest acquisition of an additional 1,045 Bitcoin for approximately $29.3 million.
This brings the company’s total holdings to a staggering 140,000 Bitcoin, acquired for approximately $4.17 billion at an average price of $29,803 per BTC.
The news was announced on April 5th in a tweet by MicroStrategy’s executive chairman, Michael Saylor.
Saylor has been a vocal advocate for Bitcoin and has been leading the charge for corporations to adopt the largest cryptocurrency as a strategic asset.
He believes that Bitcoin is the most secure and reliable store of value available in the market today and presents a unique opportunity for businesses to protect their assets from inflation.
MicroStrategy’s Bitcoin strategy appears to involve a dollar cost averaging approach, albeit with vast amounts of money. The company recently repaid its Silvergate loan and purchased 6,500 BTC at the end of March.
This latest acquisition represents a significant milestone for the company as it continues to invest in Bitcoin as a reserve asset.
The move towards Bitcoin as a strategic asset is gaining traction among companies worldwide. MicroStrategy’s approach has been closely watched by industry observers, and their success has spurred other firms to follow suit.
As the market continues to mature, it will be interesting to see how companies integrate Bitcoin into their overall investment strategies.
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