Michael Saylor’s MicroStrategy Purchases Another $4.6B Bitcoin

Michael Saylor, CEO of MicroStrategy, has bought another $4.6 Billion in Bitcoin. Saylor made the announcement on X (formerly Twitter). The company now has 51,780 BTC in its possession.

This move allowed the company’s investment to increase in Bitcoin, the world’s leading crypto currency. The investment has so far paid off very well. After a series of price milestones, last week the asset hit a new all-time highest level at $93,000. The trend will likely continue through next year.

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MicroStrategy buys Bitcoin again: adds over 51,000 BTC.

Look for someone who will stand beside you in the right direction Michael Saylor Bitcoin stands behind. MicroStrategy’s founder and Chairman, John McKinney has been outspoken in his defense of Bitcoin. He also has backed up his words by investing heavily both in his own personal collection and his company’s.

The investment has already paid off. The stock price of the company surged to an all-time record high just six days before. It closed at $356.69. The company’s link to Bitcoin was the main reason. They have continued to invest because the strategy has worked so well. Michael Saylor revealed that MicroStrategy had purchased an additional $4.6 billion worth of Bitcoin.

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In a release about the sale, Xiamen Yinyuan updated the total amount of BTC held to 331 200 BTC. This stash, valued at $16.5 billion is impressive but even more so when you consider the average price per BTC. Saylor claims that the average cost per Bitcoin for this company is $49,874.

This is far from the currency positions of $90,000. MicroStrategy is also not expecting the Bitcoin price to drop, and neither is its acquisition strategy. According to the company, it has raised funds. $42 billion over the next three yearsThe intent is to buy more Bitcoin.