On this day, April 5th, in the year 2023, MicroStrategy possesses a total of 140,000 units of Bitcoin.
These were procured for roughly $4.17 billion at an average price of $29,803 per unit. The announcement of this event denotes a momentous milestone for the organization, as it persists in investing in Bitcoin as a reserve asset.
Saylor, a proponent of Bitcoin, has been spearheading the initiative for corporations to adopt the primary cryptocurrency as a strategic asset. He has consistently expressed that Bitcoin is the most secure and dependable store of value existing in the market today. Furthermore, he has stated that it presents an exceptional opportunity for businesses to shield their assets from the scourge of inflation.
Recently, Saylor's MicroStrategy disbursed the Silvergate loan and obtained 6,500 units of Bitcoin at the conclusion of March. The company's Bitcoin approach seems to utilize a dollar-cost averaging methodology, albeit with a substantial amount of money.
MicroStrategy's initial acquisition of Bitcoin transpired in August 2020. Since then, the company has continued to increase its holdings in a consistent manner. This recent procurement augments the total quantity of Bitcoin owned by MicroStrategy to over $12.6 billion. This amount is a testament to the organization's faith in the long-term potential of cryptocurrency.
Also, Read - Paxful Suspends Market Due to Crypto Downturn and Regulatory Issues
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