MicroStrategy, a number one enterprise intelligence and software program firm, has continued its steadfast dedication to Bitcoin by buying an extra 155 BTC at a complete value of $5.3 million, Founder & Chairman Michael Saylor announced right now. The acquisition got here as Bitcoin’s value has been experiencing upward momentum, reaching a latest yearly excessive of $35,000.
The corporate initially entered the Bitcoin market in August 2020, making a big preliminary funding of $250 million into BTC. Since then, they’ve persistently added to their Bitcoin holdings, making a treasury reserve technique that has garnered over 158,400 bitcoin value greater than $5.4 billion on the time of writing. The corporate has acquired 6,067 bitcoin for the reason that finish of Q2 for $167 million.
“We additional elevated our complete bitcoin holdings to 158,400 bitcoins, including 6,067 bitcoins for the reason that finish of the second quarter,” mentioned MicroStrategy Chief Monetary Officer, Andrew Kang. “Our dedication to accumulate and maintain bitcoin stays sturdy, particularly with the promising backdrop of potential elevated institutional adoption.”
Because the fourth Bitcoin halving rapidly approaches and the primary spot Bitcoin ETF approval by the SEC appears imminent, MicroStrategy continues its aggressive bitcoin funding technique with no indicators of slowing down.
![Bitcoin [BTC], Gold, S&P 500 and a case of the widening correlation](https://www.blocpress.com/wp-content/uploads/2023/03/chart-1905225_1920-1000x600-120x86.jpg)
