MicroStrategy, led by Michael Saylor, is once again making waves in the Bitcoin world. The company recently invested $347 million in cash to acquire an additional 12,333 bitcoins between April 29 and June 27. This significant move has increased its total holdings to an impressive 152,333 bitcoins, valued at a staggering $4.52 billion.
This purchase demonstrates the firm’s unwavering confidence in Bitcoin, even as the price experienced a 1.3% decline to $30.4K. Interestingly, on the same day as the purchase, the company reported the sale of $333.7 million worth of its shares, indicating a strategic move to strengthen its Bitcoin portfolio.
MicroStrategy’s consistent investment in Bitcoin, despite its volatility, appears to be winning over market sentiment as the company’s shares rose by 2%.
MicroStrategy’s significant investment in Bitcoin showcases its steadfast belief in the digital asset and its potential for long-term growth, which is further reflected in the positive market sentiment surrounding the company.
Compiled by Coinbold