In the period from August 6 to September 12 (16 August to 22 September 1403), Microstrategy bought about $1.11 billion worth of bitcoins, and now the company’s bitcoin assets have reached about $9.45 billion.
According to Reuters, approval of Bitcoin exchange-traded funds (ETF) in January (2012) with support from Wall Street and figures such as Elon Musk It caused more attention to be drawn to cryptocurrencies.
Analysts say that the microstrategy’s move to buy Bitcoin has helped protect the value of the company’s assets and increase the attractiveness of its stock. The company has a strong desire to assimilate with digital assets.
In 2020, Microstrategy switched to buying and holding Bitcoin, with the income from its software business decreasing, and now it is considered the largest company holding this cryptocurrency. The company, which ended 2023 with 190,000 bitcoins on its balance sheet, announced that it plans to increase its investment in crypto.
Microstrategy has purchased about 18,300 bitcoins at an average price of approximately $60,408 per unit between August 16 and September 22, 1403. According to statistics, this company and its subsidiaries have about 244,800 bitcoins as of September 12, 2024 (22 Shahrivar 1403).
MicroStrategy’s total Bitcoin holdings are $9.45 billion, representing an average purchase price of about $38,585 per Bitcoin. Microstrategy’s stock has more than doubled in value in 2024, while Bitcoin is up nearly 31% year-to-date.
