MicroStrategy Purchases 5,445 Bitcoin at an Average Price of $27,053
MicroStrategy, co-founded by Michael Saylor, has recently announced that it acquired 5,445 Bitcoin (BTC) at an average price of $27,053. This purchase was made between August 1 and September 24, with a total investment of $147.3 million.
MicroStrategy Invests $4.68 Billion
To fund its Bitcoin purchases, MicroStrategy sold 403,362 class A common stocks for $147.3 million. In August, the company revealed its plan to sell up to $750 million worth of class A common stocks. The filing explains that MicroStrategy entered into a sales agreement with Cowen and Company, LLC, Canaccord Genuity LLC, and Berenberg Capital Markets LLC.
It’s important to note that MicroStrategy stock (MSTR) has dropped by over 25% since August 1.
MicroStrategy Holds 158,245 BTC
With this latest investment in Bitcoin, MicroStrategy now holds a total of 158,245 BTC. Over the past three years, the company has invested around $4.68 billion in BTC at an average price of $29,582.
Dollar Cost Averaging Strategy
MicroStrategy has been implementing Dollar Cost Averaging (DCA) strategies during the crypto winter. This approach involves regularly buying assets regardless of their price fluctuations.
The Anticipation for the Bitcoin Halving
The upcoming Bitcoin halving event is expected to trigger a new crypto bull run. Many believe that Saylor’s investment decisions will be regarded as genius in the next year.
Hot Take: MicroStrategy’s Continued Bitcoin Accumulation
MicroStrategy, led by Michael Saylor, has recently purchased 5,445 Bitcoin at an average price of $27,053. This brings their total Bitcoin holdings to 158,245 BTC, acquired over the past three years. Despite the volatility in the market and the decrease in MicroStrategy stock price, the company continues to implement its Dollar Cost Averaging (DCA) strategies. With the upcoming Bitcoin halving event, there is anticipation for a new bull run in the crypto market, and Saylor’s investment decisions are expected to be praised in the coming months.
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