MicroStrategy

MicroStrategy Adds 253 More Bitcoins to Its Portfolio

Business intelligence firm Microstrategy has added 253 more Bitcoins to its investment portfolio. The latest purchase was made at a median price of $59,339, meaning that the company has spent $15million on the purchase. The firm’s unequivocal trust in Bitcoin has meant that its total Bitcoin holding now stands at 91,579.

While big financial institutions and major Wall Street players have been hesitant to join the BTC boom, Microstrategy CEO Michael Saylor has acquired a fortune. The company has spent $2.2 billion in total to purchase Bitcoins since 2020. However, the value of their purchases has grown immensely and is currently valued at over 5 billion dollars.

Saylor has emerged as one of the biggest backers of Bitcoin in recent months. He has also claimed that he was the reason for Tesla’s investment in Bitcoin.

This isn’t the first time that MicroStrategy has gone big in the Crypto market. Just this February, the software company added over 19,000 BTCs to its investment portfolio in one go.

Several financial investors have moved towards mainstream acceptance of Bitcoin. Just last week, Visa and PayPal made huge announcements related to crypto. These announcements have had a major impact on Bitcoin’s value as the world’s biggest digital asset made a recovery to $58k after dropping as low as $50,000 towards the end of March.

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