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MicroStrategy Looks At Bitcoin As The Most Superior Asset

Key Takeaways
  • MicroStrategy buys Bitcoin worth $155 Million with a total holding at worth $11 Billion.
  • MicroStrategy’s recent purchase marks a milestone in the crypto world making it more investment-friendly.
27-Feb-2024 By: Simran Mishra
MicroStrategy Looks

Microstrategy Acquires 3000 Bitcoin worth $155 Million

MicroStrategy, The largest holder of publicly traded Bitcoins has acquired 3000 Bitcoins worth $155 Million bringing their Bitcoin counts to 1,93,000. Michael Saylor, the founder of MicroStrategy, took to Twitter on Monday to announce the latest acquisition of the company's portfolio.

“MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per Bitcoin. As of 2/25/24, MicroStrategy now holds 193,000 BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin.” Wrote Saylor.

These 3000 Bitcoin purchases worth $155 Million by Microstrategy came in line with the recent interview of  MicroStrategy’s Founder Michael Saylor with Bloomberg where he stated “Bitcoin as the Strongest Asset” and believes that capital is going to keep flowing from the other asset classes like Gold and Real Estate into Bitcoin because cryptocurrency is technically superior to those asset classes and highlights that Microstrategy has no plan to sell its Bitcoins in the near future.

MicroStrategy’s Bitcoin Journey

The Microstrategy’s Bitcoin journey started in August 2020 with the purchase of 21,454 Bitcoins and highlights it as their new capital allocation strategy for long-term growth after that they continued their Bitcoin purchases with marking big purchases like 16,130 BTC in November 2023, 14,620 BTC in December 2023 and the recent purchase of 3000 BTC in February 2024 making their total holding to 193K Bitcoins worth $11 Billion (Approx) as of Feb 2024.

How These Purchase Benefits Crypto Market

Microstrategy’s purchase of 3000 BTC sends positive signals to crypto lovers across various dimensions. It reflects the growing market confidence in Bitcoin and cryptocurrency establishing it as a trusted long-term asset. This move contributes to Bitcoin's growing adoption as a mainstream corporate holding, reinforcing its legitimacy in financial portfolios.

The purchase also highlights the growing institutional investment in cryptocurrencies marking the acceptance of crypto in the traditional financial system. Microstrategy’s holdings of Bitcoin also portray Bitcoin and Cryptocurrency as a potential hedge against Inflation and Economic uncertainties which was also highlighted in Russia’s growing interest in Crypto for Global trade.

Overall, MicroStrategy's purchases enhance the cryptocurrency ecosystem's stability and make him the second holder among the top 5 Bitcoin Holders, positioning Bitcoin as a valuable and strategic component in contemporary investment strategies.

Also read - The fuel that ignited Bitcoin's price explosion

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