Posted 2/26/2024, 5:52:00 PM
MicroStrategy Buys $155 Million More Bitcoin, Upping Holdings to $9.9 Billion
- MicroStrategy bought another ~3,000 Bitcoin for $155.4 million, raising its total holdings to around 193,000 Bitcoin worth $9.88 billion
- The company, chaired by crypto evangelist Michael Saylor, started buying Bitcoin in 2020 as an inflation hedge and cash alternative
- Saylor said in an interview there's "no reason to sell the winner" when asked if/when MicroStrategy would sell its Bitcoin
- The average purchase price for the latest Bitcoin acquisition was $51,813; the average for total holdings is $31,544
- MicroStrategy's Bitcoin value briefly hit $10 billion earlier this month when prices reached a 2-year high