MicroStrategy, the company led by Michael Saylor, announced on Monday the acquisition of an additional 15,300 bitcoin (BTC) for its treasury. The purchase was made hours before BTC reached a new all-time high of USD 106,000.
As reported by Saylor on X, MicroStrategy acquired a total of 15,350 BTC for an investment of $1.5 billion, at an average price of $100,386 per bitcoin.
To date, MicroStrategy owns 439,000 bitcoin, a fortune valued at more than $45.2 billion at the current BTC price of over $103,000.
The company's bitcoin investment has generated a return of 72.4% since January , and in the most recent quarter, that return has been 46.4%, according to company data.
Prior to the formal announcement, Saylor had hinted at the new BTC purchase on X, where he shared a chart from the SaylorTracker.com site, which shows MicroStrategy’s BTC purchases, marked in green dots. The entrepreneur wrote the message:“SaylorTracker.com is missing a green dot?”
Following the news of the purchase, shares of MicroStrategy, which recently joined the Nasdaq 100 index, experienced a 3.7% rebound in the premarket, trading at around $420. So far this year, MicroStrategy shares have increased by 490%, an increase directly attributed to the company’s massive investment in BTC.
MicroStrategy has been a pioneer in acquiring bitcoin as a store of value for its treasury. Since August 2020, the company has adopted a capital allocation strategy to maximize long-term value for its shareholders, investing in bitcoin as a bet against inflation and as a diversification of its balance sheet.
Saylor has been a strong proponent of this strategy, arguing that bitcoin is a safe and valuable long-term investment.
MicroStrategy's purchase of bitcoin not only reflects the company's confidence in the currency, but has also fueled the interest of other public companies in following similar steps , as CriptoNoticias has reported.
MicroStrategy remains one of the largest holders of bitcoin in the world, and its commitment to the digital currency appears unwavering . The company has demonstrated remarkable resilience in its approach to BTC, even in times of high volatility and regulatory changes.
