Leading business intelligence and services firm MicroStrategy recently made a new purchase of 1,045 Bitcoin, which brings their total holding of the crypto asset to 140,000. This latest purchase increased the company’s total Bitcoin holdings to surpass that of bankrupt crypto exchange Mt. Gox. The firm is investing in Bitcoin through its acquisition program, which has been running since March of 2020.

MicroStrategy acquired the additional 1,045 BTC between March 24 and April 4 for a total of $29.3 million. This purchase was made through cash transactions and resulted in an average purchase price of $28,016 per BTC. With the new purchase, their total Bitcoin holding is now valued at $4.17 billion, which was obtained at an average price of $29,803.

In March of 2021, the company reported they purchased an additional 6,000 BTC for approximately $150 million. This means that the business intelligence firm has been investing heavily in Bitcoin just in the last month. Unfortunately, news of the purchases had little effect on Bitcoin’s price, with the flagship crypto asset marginally increasing by 0.17% as of April 4th. However, the firm’s stocks are up 2.12% for 2021, with a performance increase of over 80%.

MicroStrategy believes that Bitcoin is a trustworthy store of value and has consequently opted to invest in it. The firm has taken its purchases beyond the current price and market trends, which indicates a secure stance towards the asset. Although MicroStrategy’s commitment to increasing its Bitcoin holdings may be more beneficial to the firm itself, these developments are also seen as positive for Bitcoin’s price performance in the future.



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