MicroStrategy, a business intelligence software firm and the world’s largest public holder of Bitcoin, another purchased of 1,045 BTC for approximately $29.3 million, at an average price of $28,016 per coin. This acquisition comes less than two weeks after the company bought 6,455 BTC for $150 million, bringing its total holdings to 140,000 BTC acquired for approximately $4.17 billion at an average price of $29,803 per BTC.
MicroStrategy has been steadily increasing its bitcoin holdings since 2020, often taking advantage of price dips to make purchases. Its latest purchase comes shortly after the US government sold over $215 million worth of BTC, with the government planning to sell a total of 51,351 bitcoin throughout 2023. Despite this, bitcoin’s value has remained strong, trading at around $28,497 on Wednesday, representing an 84% year-to-date increase. MicroStrategy’s stock, MSTR, closed at approximately $299 on Tuesday, showing a gain of over 105% YTD.