Posted 3/20/2024, 2:00:12 PM
MicroStrategy Buys Another $623 Million in Bitcoin, Now Holds Over 1% of Total Supply
- MicroStrategy bought an additional 9,245 Bitcoin for $623 million, at an average price of $67,382 per token
- Total Bitcoin holdings for MicroStrategy now stand at 214,246 BTC, acquired for $7.5 billion (~$35,160 per token)
- With latest purchase, MicroStrategy now holds over 1% of current Bitcoin supply (1.02% - 1.08%)
- MicroStrategy CEO Michael Saylor said "Bitcoin is the exit strategy", signaling long-term plans to keep holding
- As a major institutional holder, MicroStrategy can have significant impact on Bitcoin price with its buying and holding strategy
