MicroStrategy further strengthened its position as one of the largest corporate holders of bitcoin by recently purchasing 1,045 bitcoins for approximately $29.3 million.
On Wednesday, the business intelligence company MicroStrategy announcedthat he bought an additional 1,045 bitcoins for a total purchase price of roughly $29.3 million.
According to a recent filing with the US Securities and Exchange Commission (SEC), the new acquisition took place between March 24 and April 4 at an average price of $28,016 per coin.
With this latest haul, the company’s bitcoin hoard now stands at 140,000 coins.
He acquired these coins for a total purchase price of regarding $4.17 billion. The average price paid by the company is currently $29,803 per bitcoin.
The leading cryptocurrency was trading at $28,418 at the time of writing, according to CoinMarketCap, meaning MicroStrategy still hasn’t broken even following facing huge losses in 2022 due to the bear market.
The company also announced a $150 million bitcoin purchase at the end of March.
MicroStrategy has played a key role in the institutional adoption of the cryptocurrency flagship, having started investing in the cryptocurrency in August 2020.
Since then, the company has continued to expand its bitcoin holdings, making it the largest corporate holder of the digital asset.
