Michael Saylor’s MicroStrategy Buys Another $458M in Bitcoin

The same day that the firm announced it raised $1 billion to buy more BTC, Michael Saylor’s MicroStrategy announced it had purchased an additional $458 million worth of Bitcoin. Indeed, the company announced that it has acquired 7,420 BTC in its latest acquisition effort

In a press release, the company confirmed that it now holds a remarkable 252,220 BTC after its latest purchase Friday. Saylor took to X (formerly Twitter) to announce the acquisition, stating that the firm paid $61,750 per Bitcoin in the most recent installment of its holding strategy.

Also Read: Bitcoin: Michael Saylor Says BTC Will Eventually Reach $13M

MicroStrategy Adds 7,420 BTC as Its Total Holdings Value Surpasses $9.9 Billion

2024 has been Bitcoin’s year. The leading cryptocurrency has grown in prevalence throughout the last several months. In March of this year, it reached an all-time high price of $73,000 as a host of traditional finance firms have embraced investment into the token.

That success has been massive for the crypto sector as a whole. Yet, it has also done tremendous work for those who have never wavered in their advocacy of the asset’s potential. Among them is Michael Saylor, whose MicroStrategy firm has added more than $458 million worth of Bitcoin to its stash.

Also Read: South Korea’s Pension Fund Buys $34M in MicroStrategy Shares

The move came the same day as the company announced it had raised more than $1 billion. The funds were set to be used to grow its substantial Bitcoin holdings. That quest has already taken place to the end of the week. The latest purchase sees the firm add 7,420 BTC to its stash.

That move brings its total holdings to more than 252,220 BTC. Additionally, the strategy has worked to get the firm tremendous value in its Bitcoin purchases. The average purchasing price per BTC has been $39,266, which is a far cry from its current value above the $63,000 mark.