MicroStrategy buys $347M worth of Bitcoin amid market thaw

Cointelegraph
Cointelegraph

28 Jun 2023 3:30 PM

MicroStrategy currently holds $4.52 billion in Bitcoin. ...

  • On June 28, MicroStrategy announced the purchase of 12,333 Bitcoin worth $347 million, increasing their total Bitcoin balance to 152,333 with an average purchase price of $29,668.
  • The purchase was partly financed through the issuance of new stock, with MicroStrategy selling 1,079,170 shares for $337 million.
  • MicroStrategy has been actively buying Bitcoin, regardless of its current price, and CEO Michael Saylor has been a vocal advocate for the cryptocurrency.
  • In Q1 2023, MicroStrategy reported its first profitable quarter since 2020, thanks to a one-time income tax benefit.

The sentiment of the article is generally positive, highlighting MicroStrategy's continued investment in Bitcoin and their profitable quarter.

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