MicroStrategy, founded by Bitcoin advocate Michael Saylor, has announced the acquisition of 6,556 BTC for approximately $555.8 million. This event underscores the company's ongoing strategy to build out its Bitcoin assets.
New MicroStrategy Purchase
According to the company's statement, the purchase was made between April 14 and April 20 at an average price of $84,785 per coin. This marks a significant addition to MicroStrategy's already large Bitcoin treasury.
Company Strategy
Michael Saylor has repeatedly emphasized that Bitcoin is the company’s primary treasury reserve asset, framing it as a long-term hedge against inflation and fiat devaluation.
Market and Bitcoin Interest
This acquisition comes amid renewed institutional interest and increased global liquidity, with Bitcoin recently breaking above $87,000 after weeks of lower trading. MicroStrategy continues to expand its assets regardless of short-term market volatility.
Thus, MicroStrategy's latest purchase illustrates its strategic approach to investing in Bitcoin, highlighting the company's confidence in the cryptocurrency's future.
