MicroStrategy Buys $209M in Bitcoin, Reaches 446,400 BTC

• MicroStrategy acquired 2,138 BTC at a total of $209M at $97,837 per Bitcoin which was a rational approach to a buy. 
• The total number of Bitcoins held by the firm at this time was 446,400 purchased for an average price of $62,428 per Bitcoin. 
• MicroStrategy now holds Bitcoin worth $27.9 billion which has generated a yield of 74.1% Year to Date. 

MicroStrategy, which has recently initiated aggressive BTC buying, has acquired 2,138 BTC for roughly $209,070,000. This takes the company’s Bitcoin reserve to 446,400 BTC thus making it among the largest corporate holders of BTC across the world. 

New Acquisition Information and Business Strategies

In the latest move, the firm acquired BTC at $ 97,837 for one Bitcoin. However, the size of this purchase is also smaller than the acquisitions made by MicroStrategy in recent months; however, the company has consistently been purchasing Bitcoin en masse regardless of the market situation. The firm has always shunned market timing saying it focuses on developing a systematic series of cryptocurrencies to invest in. 

MicroStrategy’s total BTC holding is now at around 124,744 BTC with a total spent value of roughly $27.9 billion and the average price paid per Bitcoin is $62,428. Although the firm has been trading in Bitcoin for some time now, it has recorded a yield of 74.1% on the year to date, an indication of the high returns in value of this form of virtual currency. 

This is only the latest acquisition, which follows the company’s $516m Bitcoin buy at a higher average price. These activities point towards the reapplied focus on increasing the company’s utilization of Bitcoin as it works to create increasing shareholder value and improvements in its balance sheets. 

Market Setting and Pricing Strategies

Bitcoin is now at $ 92,800, down by 5.5% within the past day from the trading price it was at yesterday. However, this has not discouraged MicroStrategy from making acquisitions as it is confidently sure that the value of the asset will rise back in the future. 

This action highlights MicroStrategy as the market leader in corporate Bitcoin adoption as its Bitcoin stash is just shy of 450,000 BTC. These continuous efforts pay credence to the belief of the firm in Bitcoin as elements of its financial model.