microstrategy buys14620 bitcoin for $615 million

MICHAEL SAYLOR’S MICROSTRATEGY BUYS 14,620 BITCOIN FOR $615 MILLION

microstrategy buys14620 bitcoin for $615 million

MICHAEL SAYLOR’S MICROSTRATEGY BUYS 14,620 BITCOIN FOR $615 MILLION

MicroStrategy, a prominent player in the realm of business intelligence and software, remains unwavering in its dedication to Bitcoin. In an announcement today, Founder & Chairman Michael Saylor revealed the company’s latest move – acquiring an additional 14,620 BTC at a total expenditure of $615.7 million. This strategic purchase coincides with Bitcoin’s recent surge, pushing its value beyond $42,000.

MicroStrategy made its foray into the Bitcoin market back in August 2020, initiating with a substantial investment of $250 million in BTC. Since that pivotal moment, the company has consistently bolstered its Bitcoin holdings, implementing a treasury reserve strategy. As of the latest update, MicroStrategy’s Bitcoin stash has surpassed 189,150, with a market value exceeding $8.11 billion.

MicroStrategy now holds 189,150 BTC worth $8.11 billion

In an official statement on December 27, 2023, MicroStrategy Incorporated outlined the specifics of its recent Bitcoin acquisition. The company, along with its subsidiaries, procured approximately 14,620 bitcoins between November 30, 2023, and December 26, 2023. The total cash outlay for this endeavor amounted to about $615.7 million, with an average Bitcoin price of roughly $42,110 per unit, factoring in fees and expenses. As of December 26, 2023, the company and its subsidiaries held a cumulative total of around 189,150 bitcoins. The overall acquisition cost for this extensive Bitcoin portfolio stands at approximately $5.895 billion, with an average purchase price of approximately $31,168 per bitcoin, inclusive of fees and expenses.

With the imminent arrival of the fourth Bitcoin halving and the potential approval of the first spot Bitcoin ETF in the United States early in the new year, MicroStrategy remains steadfast in its proactive Bitcoin investment strategy, showing no indications of slowing down.

Jason Stone

Jason Stone

Jason Stone is a serial entrepreneur with multiple 7 figure business ventures across various verticals of web and marketing. He is widely known by over 7 million people around the world as @Millionaire_Mentor on Instagram. Jason utilizes his experience and passion as a motivator, mentor, teacher, and social media influencer to help others create success. Jason Stone is an accomplished Senior Executive, Consultant, and Thought Leader with more than 20 years of success across the engineering, e-commerce, social media, internet, marketing, advertising, technology, automotive, blockchain, franchising, and health and wellness industries. He is an early-stage startup tech investor/advisor to over a dozen companies. Leveraging extensive experience creating go-to-market strategies and viral marketing, he is a valuable advisor for an organization experiencing growth or launching new products. His broad areas of expertise include business development, mechanical engineering, global strategy, email marketing, digital marketing, automation, blockchain, organizational leadership, and growth hacking. t
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