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Michael Saylor's MicroStrategy Now Holds Over $4.6B Worth of Bitcoin
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 company said on Wednesday.
With the most recent purchase, MicroStrategy now holds 152,333 bitcoin, worth over $4.6 billion at current prices.
STORY CONTINUES BELOW
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 previously disclosed 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.
Read more: Michael Saylor's MicroStrategy Books a Much Smaller Bitcoin Impairment Charge
UPDATE (June 28, 2023, 12: 23 UTC): Adds additional details and background.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
