{"id":53325,"date":"2023-06-28T09:53:02","date_gmt":"2023-06-28T13:53:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=53325"},"modified":"2023-06-28T10:07:35","modified_gmt":"2023-06-28T14:07:35","slug":"microstrategy-adds-347m-in-bitcoin-holds-152k-btc","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/microstrategy-adds-347m-in-bitcoin-holds-152k-btc\/","title":{"rendered":"MicroStrategy Adds $347M in Bitcoin, Holds 152K BTC"},"content":{"rendered":"\n

MicroStrategy disclosed that it bought 12,333 bitcoins for $347 million in cash between April and June. The company now holds 152,333 bitcoins worth over $4.5 billion.<\/p>\n\n\n\n

\"MicroStrategy<\/figure>\n\n\n\n

MicroStrategy<\/a>, a business intelligence company that has become one of the biggest corporate investors in Bitcoin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, has added more of the cryptocurrency to its balance sheet. <\/p>\n\n\n\n

The company announced that it bought 12,333<\/strong> bitcoins for approximately $347 million<\/strong> in cash between April 29 and June 27. The average price per bitcoin, including fees and expenses, was about $28,136. <\/strong><\/p>\n\n\n\n

As of June 27<\/use><\/svg><\/span><\/a>, MicroStrategy and its subsidiaries collectively held 152,333 bitcoins<\/strong>. These were acquired at an aggregate purchase price of approximately $4.52 billion<\/strong>, with an average purchase price of approximately $29,668<\/strong> per bitcoin, including fees and expenses.<\/p>\n\n\n\n

MicroStrategy's CEO and co-founder, Michael Saylor, revealed the purchase on Twitter<\/a> and shared a link to the company's filing with the U.S. Securities and Exchange Commission (SEC).<\/p>\n\n\n\n

\n

MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin<\/use><\/svg><\/span><\/a>. As of 6\/27\/23 @MicroStrategy<\/use><\/svg><\/span><\/a> hodls 152,333 $BTC<\/use><\/svg><\/span><\/a> acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. $MSTR<\/use><\/svg><\/span><\/a> https:\/\/t.co\/joHo1gEnR0<\/use><\/svg><\/span><\/a><\/p>— Michael Saylor (@saylor) June 28, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

MicroStrategy's Bitcoin Strategy<\/h3>\n\n\n\n

MicroStrategy is a software company that provides businesses with data and intelligence software. In August 2020, it began buying large quantities of bitcoin. <\/p>\n\n\n\n

As of December 2022, it holds approximately 132,500 bitcoins<\/strong> purchased at an aggregate price of approximately $4.03 billion<\/strong> or an average of $30,397 <\/strong>per bitcoin. <\/p>\n\n\n\n

MicroStrategy has incurred $2.36 billion in debt to buy bitcoins, using over $300 million in cash on its balance sheet in June 2020 and the free cash flow it has generated since then.<\/p>\n\n\n\n

The company's cost basis was roughly $30,700 <\/strong>per bitcoin as of March 31, 2022. As of December 2022, no publicly listed companies had as much bitcoin as MicroStrategy. <\/p>\n\n\n\n

However, for tax reasons, the company sold some of its bitcoin holdings in December 2022.<\/p>\n\n\n\n

The price of bitcoin fell sharply in 2022, and there were concerns that MicroStrategy may be subject to a “margin call.”<\/a> However, the company has maintained its bullish stance on the cryptocurrency and continued to buy more at lower prices.<\/p>\n\n\n\n

Saylor has emerged as one of the most vocal advocates of Bitcoin in the corporate world. He believes Bitcoin is a superior store of value and a hedge against inflation and currency devaluation. <\/p>\n\n\n\n

He has also encouraged other companies to adopt Bitcoin as part of their treasury strategy.<\/p>\n\n\n\n

MicroStrategy's latest acquisition comes amid a recovery in the crypto market after a prolonged slump. Bitcoin recently surpassed the $30,000 <\/strong>threshold for the first time since June, when it fell below it several times. <\/p>\n\n\n\n

The market also anticipates the SEC's approval of a spot bitcoin ETF<\/a>, which could boost institutional demand for the asset.<\/p>\n\n\n\n

MicroStrategy is one of the most prominent examples of how companies can leverage bitcoin to improve their value proposition and diversify their portfolio. <\/p>\n\n\n\n

Investors are advised to do their own research<\/em> and due diligence before investing in any Crypto platform or Asset.<\/p>\n","protected":false},"excerpt":{"rendered":"

MicroStrategy disclosed that it bought 12,333 bitcoins for $347 million in cash between April and June. The company now holds 152,333 bitcoins worth over $4.5 billion. MicroStrategy, a business intelligence company that has become one of the biggest corporate investors in Bitcoin , has added more of the cryptocurrency to its balance sheet. The company […]<\/p>\n","protected":false},"author":44,"featured_media":53343,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[152,149,539],"class_list":["post-53325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-btc","tag-microstrategy"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/MicroStrategy-x-Bitcoin.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/53325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=53325"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/53325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/53343"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=53325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=53325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=53325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}