In recent developments, MicroStrategy has made a significant investment by acquiring 9,245 Bitcoins between March 11 and March 18. The total cost incurred by the company for this acquisition amounts to $623 million.
MicroStrategy's founder, Michael Saylor, confirmed the purchase in a statement, highlighting the company's commitment to expanding its Bitcoin holdings. He stated, "MicroStrategy purchased an additional 9,245 BTC for $623.0 million at $67,382 per Bitcoin with the proceeds from the convertible notes."
As of March 18, 2024, MicroStrategy's total Bitcoin holdings have increased to 214,246. Remarkably, the company's average cost per Bitcoin stands at $35,160, reflecting its strategic approach to accumulating digital assets amidst market fluctuations.