As per reports, MicroStrategy, an American business intelligence firm, declared that recently it had collected 1,045 Bitcoins for about $29.3 million for an average cost of $28,016 per BTC, stated Cointelegraph. It is believed that Michael Saylor, executive, MicroStrategy, tweeted this news on April 5, 2023.
As reported by Cointelegraph, currently MicroStrategy occupies 140,000 BTC that was collected for around $4.17 billion for an average cost of $29,803 per BTC. It is expected that this step might be a milestone for MicroStrategy, as it still keeps on investing in Bitcoin, added Cointelegraph.
Sources revealed that MicroStrategy recently settled their loan with the Sivergate Bank and purchased 6,500 BTC at the end of March 2023. It is believed that this strategy might be ‘dollar-cost averaging’ along with a large sum of money. Furthermore, the current purchase makes the total number of Bitcoin occupied by MicroStrategy amount to over $12.6 billion, Cointelegraph concluded.
(With insights from Cointelegraph)