MicroStrategy has once again made headlines in the cryptocurrency world with another massive Bitcoin purchase.
On Monday, the company revealed through a Form 8-K filing with the Securities and Exchange Commission (SEC) that it had acquired an additional 15,355 Bitcoins between April 21 and Sunday. This latest investment totaled approximately $1.42 billion, with each Bitcoin purchased at an average price of around $92,737.
This acquisition pushes MicroStrategy’s total Bitcoin holdings to an impressive 553,555 units, representing an aggregate purchase price of $37.9 billion — averaging $68,459 per Bitcoin. The company’s aggressive Bitcoin strategy continues to solidify its position as the world’s largest corporate holder of the digital asset.
Just last week, MicroStrategy disclosed it had purchased 6,556 Bitcoins for about $555.8 million in cash, signaling its unwavering commitment to Bitcoin as its primary treasury reserve asset — a strategy first adopted in 2020.
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Analysts at TD Cowen noted that MicroStrategy financed its latest Bitcoin spree by issuing four million shares of common stock, raising net proceeds of $1.4 billion.
Interestingly, despite MicroStrategy’s substantial Bitcoin purchases, the firm’s activities reportedly have little to no lasting effect on Bitcoin’s price. Instead, Bitcoin’s movements continue to be influenced by broader market trends and investor sentiment.
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As of Monday morning, the S&P 500 was down 0.5%, while Bitcoin prices remained relatively stable over the past 24 hours, trading around $94,455 according to CoinDesk data.
MicroStrategy’s aggressive Bitcoin accumulation reflects its belief in the long-term value of the cryptocurrency, and its actions continue to be closely watched by both Wall Street and crypto investors alike.
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