Michael Saylor's MicroStrategy Now Holds Over $4.6B Worth of Bitcoin

Coindesk2023/06/28 19:22

By: Parikshit Mishra

The firm bought over 12K bitcoin for $347 million in the last two months.

Michael Saylor's MicroStrategy (MSTR) bought 12,333 bitcoin (BTC), for $347 million in cash, between April 29 and June 27, the on Wednesday.

With the most recent purchase, MicroStrategy now holds 152,333 bitcoin, worth over $4.6 billion at curren t prices.

The company, which was founded by crypto billionaire Michael Saylor, is one of the largest HODLers of bitcoin. MicroStrategy also said it sold some $333.7 million of its shares as per a shares sale agreement.

In May, the firm had booked a smaller than expected write down for the first quarter on its bitcoin's holdings.

Shares of the firm were down 1% at $321.44 during pre-market trading, mirroring bitcoin, which was down over 1% at $30,288.

UPDATE (June 28, 2023, 12: 23 UTC): Adds additional details and background.

Edited by Parikshit Mishra.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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