MicroStrategy adds another 1,045 Bitcoins to its growing crypto treasury

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MicroStrategy, an American business intelligence company, has just announced its latest acquisition of an additional 1,045 Bitcoins (BTC) for approximately $29.3 million at an average price of $28,016 per BTC. This news was announced in a tweet from MicroStrategy Executive Chairman Michael Saylor on April 5.

MicroStrategy acquired an additional 1,045 #bitcoins for ~$29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023, @MicroStrategy holds 140,000 bitcoins acquired for approximately $4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv

Michael Saylor (@saylor) April 5, 2023

As of April 5, 2023, MicroStrategy holds a total of 140,000 BTC, which was acquired for approximately $4.17 billion at an average price of $29,803 per BTC. This news is an important milestone for the company as it continues to invest in Bitcoin as a reserve asset.

Number 14 on Cointelegraphs Top 100 in Crypto, Saylor has been a strong advocate for Bitcoin and led the charge for businesses to adopt the biggest cryptocurrency as a strategic asset. Saylor has repeatedly stated that Bitcoin is the safest and most reliable store of value in the market today and provides a unique opportunity for companies to hedge their assets against inflation.

Saylors MicroStrategy recently repaid its Silvergate loan and purchased 6,500 BTC at the end of March. The company’s bitcoin strategy appears to be an average buy in dollars, but with huge sums of money.

Related:Michael Saylor Still Charged With Alleged Tax Evasion, MicroStrategy Filing Says

MicroStrategy made its first purchase of Bitcoin in August 2020, and since then the company has steadily increased its holdings. The latest purchase brings the total amount of Bitcoin held by MicroStrategy to over $12.6 billion, signaling the company’s confidence in the long-term potential of the cryptocurrency.

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