MicroStrategy continued to add to its bitcoin holdings until early in the second quarter of 2023, with the most recent purchases increasing the overall holding value to around $4 billion.
The corporation paid $23.9 million for 1,045 tokens between March 24 and April 4, according to a regulatory filing on Wednesday. MicroStrategy CEO Michael Saylor also mentioned the purchase to his 3 million Twitter followers, saying that the average price was $28,016 per bitcoin.
The recent transactions added to the 6,455 bitcoins purchased by the business between February 16 and March 23.
The software firm currently owns 140,000 total bitcoin holdings, which it purchased for $4.17 billion at an average price of $29,803 per digital coin.
With bitcoin trading at $28,170 on Wednesday, the value of its holding was almost $3.94 billion.
While MicroStrategy has been buying Bitcoin, prices have risen since the beginning of the year. The price has risen roughly 67% year to date, following a 63% drop in 2022.
During last year's maze of failures in the industry, including the high-profile collapse of crypto exchange FTX, the demise of stablecoin TerraUSD, and bankruptcy filings for certain crypto enterprises, the broader cryptocurrency market plummeted below a $1 trillion valuation.
Since then, the cryptocurrency market cap has increased to $1.2 trillion as of Wednesday.
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