MicroStrategy buys $2B in Bitcoin, boosts holdings to $23B
MicroStrategy’s latest announcement shows that its Bitcoin holdings have reached 279,420 BTC, worth almost $23 billion.
While some investors hold back from buying Bitcoin when it reaches new highs, MicroStrategy has doubled down, demonstrating a strong commitment to the cryptocurrency.
In a Nov. 11 announcement, the business intelligence firm turned Bitcoin (BTC) investor said it bought 27,200 Bitcoin for about $2.03 billion in cash. MicroStrategy purchased the coins between Oct. 31 and Nov. 10, at an average price of $74,463 per BTC, including fees and expenses.
With the latest purchase, the company now holds a total of 279,420 BTC, worth nearly $23 billion at current market prices.
