Business intelligence firm MicroStrategy purchased 16,130 Bitcoin (BTC) in November, bringing its total holdings to over $6 billion.
In a statement released on November 30, MicroStrategy co-founder Michael Saylor explain The company acquired BTC for approximately $593.3 million, which works out to $36,785 per Bitcoin. As of November 29, MicroStrategy report It holds 174,530 Bitcoins – worth approximately $6.6 billion at the time of publication – at a price of $37,726.
MicroStrategy acquired an additional 16,130 BTC for approximately $593.3 million, with an average price of $36,785 per coin #bitcoin. As of 11/29/23, @microstrategy Currently holding 174,530 Bitcoin USD Acquired for approximately $5.28 billion at an average price of $30,252 per Bitcoin. $MSTR https://t.co/3XHhpIvsuA
— Michael Saylor⚡️ (@saylor) November 30, 2023
The business intelligence firm has been buying large amounts of Bitcoin since announcing in August 2020 that it would adopt the cryptocurrency as its Treasury reserve asset. Saylor’s last statement was in September, reporting that MicroStrategy purchased 5,445 Bitcoins for approximately $147 million.
related: MicroStrategy’s Bitcoin Reserve Returns to Profits, BTC Price Tops $30,000
MicroStrategy subsequently announced its purchase of Bitcoin, and the price of the cryptocurrency rose by approximately 10% in November. The company reported $900 million in gains from its Bitcoin holdings in the third quarter of 2023, and CEO Phong Le hinted at the time that the company would continue to buy Bitcoin on an ongoing basis.
Magazine: How to protect your cryptocurrency in volatile markets: Bitcoin OGs and experts weigh in
Svlook
