MicroStrategy Spends Another $600M to Purchase Over 16,000 BTC

MicroStrategy, the NASDAQ-listed business intelligence software giant that made waves over three years ago with its pro-Bitcoin strategy, has gone on another buying spree.

The firm’s former CEO and founder – Michael Saylor – outlined the latest BTC purchase, which was worth nearly $600 million.

• Saylor asserted that the company he founded over three decades ago had spent $593.3 million to buy 16,130 BTC more for an average price of $36,785 per Bitcoin.
• This has become MicroStrategy’s second BTC purchase for November. As reported before, the firm bought 155 BTC for $5.3 million at the start of the month.
• The latest acquisition puts the company’s total stash at 174,530 BTC. It spent just under $5.3 billion to purchase the amount.
• This means that MicroStrategy sits on a massive unrealized profit of over $1.2 billion, given BTC’s current price of $37,750.

MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoin. As of 11/29/23, @MicroStrategy now hodls 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin. $MSTR https://t.co/3XHhpIvsuA

— Michael Saylor (@saylor) November 30, 2023

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