MicroStrategy continues to actively purchase Bitcoin. A new purchase is expected in August, which will be the third in this month. As of now, the total Bitcoin held by the company exceeds 629,000 BTC.
Bitcoin Purchase by MicroStrategy
According to statements from co-founder Michael Saylor, MicroStrategy may make a Bitcoin purchase soon, marking its third acquisition in August. In the latest deal on August 18, the company bought 430 BTC for $51.4 million, increasing its assets to 629,376 BTC, valued at over $72 billion.
Impact on Bitcoin Market
Shirish Jajodia, the corporate treasurer of MicroStrategy, recently stated in an interview that the company's purchases do not significantly affect the Bitcoin market. BTC is acquired through over-the-counter transactions, which helps avoid impact on market prices. Jajodia added, "Bitcoin’s trading volume is over $50 billion in any 24 hours — that's huge volume. So, if you are buying $1 billion over a couple of days, it's not actually moving the market that much."
Status of MicroStrategy Stocks
Despite the decline in stocks observed in recent months, MicroStrategy continues to accumulate Bitcoin. The company's stock fell to its lowest point in nearly four months, hitting about $325 per share, a level not seen since April. However, this week, the stock price rebounded to around $358.
MicroStrategy continues its Bitcoin acquisition strategy despite short-term price fluctuations in their stocks. As the largest company accumulating BTC, it shows clear interest in long-term asset growth.
