- MicroStrategy Chief executive officer Michael Saylor made the most recent disclosure on Tuesday.
- As a whole MicroStrategy holds around $4.52 billion price of Bitcoins.
On Tuesday, June 27, MicroStrategy, the greatest corporate holder of Bitcoins, announced the purchase of Bitcoins (BTC) to have an astounding $347 million. MicroStrategy Chief executive officer Michael Saylor made the most recent disclosure , proclaiming that the organization has acquired 12,333 Bitcoin.
On Twitter, Saylor sent the next message:
“MicroStrategy has acquired yet another 12,333 BTC for ~$347. million in an average cost of $28,136 per #bitcoin. By 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion in an average cost of $29,668 per bitcoin.”
Banking on Bitcoin
MicroStrategy continues to be making consistent Bitcoin purchases given that they first started doing this in August 2020. Regardless of the crypto winter of 2022, the firm is adamant about mounting up more BTC. Considering the current inflationary conditions within the global economy, Michael Saylor continues to be probably the most vocal advocates of Bitcoin.
Saylor can also be positive the Lightning Network, Bitcoin’s Layer-2 scalability technology, will eventually have the ability to handle more transactions per second than VISA. The Bitcoin cost continues to be increasing, growing by greater than 20% in little more than a month, since BlackRock along with other financial behemoths requested the first Bitcoin ETFs this month.
With roughly $187 million flowing into Bitcoin investment products a week ago, on-chain data reveals that institutional curiosity about cryptocurrencies, and Bitcoin particularly, has soared. MicroStrategy’s recent update enhances the sector’s institutional inflows much more.
As a whole MicroStrategy holds around $4.52 billion price of Bitcoins, which makes it undeniably the biggest corporate holder of BTC.
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