by Wilfred Samuel 
MicroStrategy announced Monday that it has increased its Bitcoin holdings by acquiring an additional 3,000 bitcoins. The company’s executive chairman Michael Saylor announced the purchase in a post on X
The company purchased 3,000 Bitcoins worth $155 million at an average price of $51,813 for each including expenses and transaction fees. MicroStrategy spread the purchase over a period of 10 days, from 15th February 2024 to 25th February 2024, to achieve the average price.
Notably, the latest purchase has increased MicroStrategy’s bitcoin holdings to 193,000 coins acquired for $6.09 billion at an average price of $31,544 per BTC. At current market price, the company’s BTC stash is worth more than $10 billion having accumulated approximately $4 billion unrealized profits. The company now holds 0.919 percent of the total bitcoin supply.
Meanwhile, as further indicated by an SEC report, as of 25th February 2024, MicroStrategy has sold about 1,272,077 shares. This sale may have further increased the amount of bitcoin acquired.
By making this bitcoin purchase, Michael Saylor continues to show that he is confident and bullish on Bitcoin as a long-term store of value. This is also proof that the company is solidly standing on its adoption of bitcoin as its primary treasure reserve asset. MicroStrategy remains one of the largest corporate companies holding bitcoin.
Bitcoin Rises Above $54,000
Following the bitcoin purchase announcement by MicroStrategy, bitcoin had a rapid price increase growing from $50,901.44 to $54,910.00 within thirteen hours. This is around a 5.2% increase from the last 24 hours before the post by Michael Saylor. The last time bitcoin got to that price was 26 months ago around December 2021.
