Business intelligence firm MicroStrategy continues to embrace Bitcoin
In a recent announcement, MicroStrategy co-founder Michael Saylor revealed that the company has purchased an additional 16,130 Bitcoin (BTC) for approximately $593.3 million. This brings their total holdings to a staggering $6 billion.
A strategic move amidst rising Bitcoin prices
MicroStrategy has been actively accumulating Bitcoin since August 2020, when it decided to adopt the cryptocurrency as its treasury reserve asset. The recent purchase comes as the price of Bitcoin experienced a 10% surge in November.
Consistent purchases and impressive gains
This is not the first time MicroStrategy has made a significant Bitcoin purchase. In September, the firm bought 5,445 BTC for around $147 million. The company's Bitcoin holdings have proven to be highly profitable, with a gain of $900 million reported in the third quarter of 2023.
MicroStrategy's CEO, Phong Le, hinted that the company will continue its consistent purchases, demonstrating their confidence in Bitcoin as a long-term investment.
