14,620 more Bitcoins have been purchased by MicroStrategy for around $615.7 million.
This acquisition, which was disclosed earlier on Wednesday, was completed at an average cost of almost $42,110 per Bitcoin, including costs and fees.
The transaction involved MicroStrategy and its subsidiaries, and it happened between November 30 and December 26.
A $6 billion Bitcoin fortune
After this most recent buy, MicroStrategy now owns around 189,150 Bitcoins overall, having bought them for about $5.895 billion altogether at an average price of about $31,168 per Bitcoin.
Based on statistics from CoinGecko, the flagship cryptocurrency’s price is presently $42,862.
This significant investment comes after MicroStrategy completed a major acquisition in November 2023. The business earlier said that it had purchased 16,130 Bitcoins for a total of around $593.3 million.
Unfazed by Bitcoin ETF frenzy
Michael Saylor, the executive chair and co-founder of MicroStrategy, asserted in a recent Bloomberg interview that investors seeking exposure to Bitcoin will continue to find MicroStrategy appealing despite the introduction of Bitcoin ETFs in the United States.
Saylor bases his case on a distinct value proposition: for investors who are confident in Bitcoin, MicroStrategy provides a leveraged, fee-free option, in contrast to the impending exchange-traded funds (ETFs), which do not use leverage and impose fees.
In order to improve MicroStrategy’s Bitcoin investing approach, he uses financial strategies such as obtaining zero-interest loans in addition to just amassing Bitcoin.
