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- MicroStrategy CEO Michael Saylor made the latest announcement on Tuesday.
- Overall, MicroStrategy possesses approximately $4.52 billion in Bitcoins.
On Tuesday, June 27, MicroStrategy, recognized as the largest corporate holder of Bitcoins, revealed the purchase of Bitcoins (BTC) valued at an impressive $347 million. MicroStrategy CEO Michael Saylor disclosed this information on Tuesday, indicating that the company has acquired 12,333 Bitcoin.
In a message on Twitter, Saylor stated:
“MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin.”
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Banking on Bitcoin
MicroStrategy has been actively purchasing Bitcoin since it began in August 2020. Despite the downturn in the crypto market during 2022, the company remains committed to accumulating more BTC. Given the current inflationary trends in the global economy, Michael Saylor has emerged as a prominent advocate for Bitcoin.
Saylor is also hopeful that the Lightning Network, Bitcoin’s Layer-2 scalability solution, will eventually surpass VISA in terms of transactions processed per second. The price of Bitcoin has seen an increase of over 20% in just over a month, following BlackRock and other major financial institutions submitting applications for the initial Bitcoin ETFs this month.
With around $187 million invested in Bitcoin products last week, on-chain data indicates a significant rise in institutional interest in cryptocurrencies, particularly Bitcoin. MicroStrategy’s recent update further enhances the sector’s institutional inflows.
In total, MicroStrategy holds approximately $4.52 billion in Bitcoins, solidifying its position as the largest corporate holder of BTC.
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