MicroStrategy is currently the largest corporate holder of bitcoin, with total BTC holdings of 152,333.
On Wednesday, June 28, business intelligence firm micro strategy Announced the purchase of over 12,000 bitcoins worth $350 million. As we know, Microstrategy is the largest corporate holder of bitcoin and the recent purchases have brought its treasury value to over $4.5 billion, while its total holdings stand at 152,333. bitcoin,
According to a filing with the US Securities and Exchange Commission, Microstrategy said it bought 12,333 bitcoins for approximately $347 million in the period between April 29 and June 27. In terms of bitcoin count, this is the largest bitcoin ever minted. Purchases made by the company so far.
According to the filing, the average price of bitcoin holdings for the company is $29,668 per BTC. MicroStrategy, a company specializing in business intelligence, mobile software and cloud-based services, currently holds a larger amount of bitcoin than any other publicly traded company.
Microstrategy CEO Michael Saylor It has been one of the biggest supporters of bitcoin since it started buying bitcoin in August 2020. Even during the crypto winter in 2022 last year, Microstrategy maintained its holdings with diamond hands. In his announcement on Twitter on Wednesday, Saylor wrote,
“MicroStrategy has acquired an additional 12,333 BTC for ~$347.0M at an average price of $28,136 per #Bitcoin. As of 6/27/23 @MicroStrategy acquired 152,333 $BTC for ~$4.52 billion at an average price of $29,668 per bitcoin.
When Saylor bought his first bitcoin, BTC was trading for less than $12,000. Since then he has been buying from time to time at every price level.
MicroStrategy will continue to hold its bitcoin
Microstrategy CEO Michael Saylor said the company will keep its bitcoins with it. “The key for us is to be consistent, transparent and responsible in pursuing that strategy,” he added.
The company’s strategy of continuing to mine bitcoin has also resulted in a rally in MSTR stock price, which is up an astonishing 125% since the start of the year.
Yesterday’s buying of bitcoin did not have much effect on the price of bitcoin, which remained stable above the $30,000 level. In addition to its bitcoin purchases, Saylor said, Microstrategy is also working on an “enterprise Lightning solution.”
The Bitcoin Lightning Network is the Layer-2 scalability platform for the Bitcoin blockchain. It helps ease the congestion of the bitcoin mainnet by processing transactions quickly and at low cost. Michael Saylor is fast The Lightning Network may one day overtake payment giants like Visa.
Bhushan is a Fintech enthusiast and has a good grasp of understanding the financial markets. His interest in economics and finance drew his attention to the newly emerging blockchain technology and cryptocurrency markets. He is in the process of continuous learning and keeps himself motivated by sharing the knowledge he has acquired. In his spare time, he reads adventure fantasy novels and occasionally explores his culinary skills.
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