MicroStrategy strengthens its Bitcoin stack with a new $147.3 million investment.
On September 25th, MicroStrategy announced the purchase of an additional 5,445 of bitcoins. The investment required an expenditure of $147.3 million, with an average purchase price per bitcoin of $27,053. The news was reported by the company itself. The recent purchases were recorded between August 1 and September 24, as reported by disclosures to the U.S. Securities and Exchange Commission. To date, MicroStrategy owns 158,245 bitcoins, purchased at an average price of $29,582 per unit.
The total investments in Bitcoin by MicroStrategy now amount to about $4.68 billion, including the charges and fees related to the purchase and management of the assets.
MicroStrategy remains determined in its intention to bet on Bitcoin. Last June, the company purchased 12,333 Bitcoins, for a total investment of $347 million, with an average purchase price of $29,668 per unit.
Paving the Way for Institutional Adoption
The path taken by Michael Saylor, co-founder and CEO of the company, demonstrates how a strategic investment in Bitcoin can be an interesting innovation in the financial space. Bitcoin continues to represent a potential valuable asset for companies willing to experiment and innovate.
