This Company Bought $155.4 Million in Bitcoin (BTC)

MicroStrategy has added to its Bitcoin portfolio, securing an additional 3,000 BTC. From February 15 to 25, 2024, this acquisition entailed a substantial investment of $155.4 million.

Notably, the average purchase price per Bitcoin stood at approximately $51,813, including all related fees and expenses.

MicroStrategy Sells Stocks to Buy Bitcoin

This strategic purchase was financed through a combination of proceeds from share sales and available cash reserves, as delineated in the company’s recent SEC filings. Consequently, MicroStrategy’s Bitcoin holdings have surged to an impressive total of approximately 193,000 BTC. The firm acquired BTC at an aggregate cost of $6.09 billion, reflecting an average price of $31,544 per Bitcoin.

“MicroStrategy is on another level with their Bitcoin game,” Decentralized Exchange RichQuack wrote.

Previously, in January, MicroStrategy expanded its Bitcoin reserves by adding 850 BTC, valued at $37.2 million, thus elevating its total holdings to 190,000. This acquisition underscored the company’s robust financial strategy and bullish outlook on Bitcoin.

Read more: Who Owns the Most Bitcoin in 2024?

Moreover, MicroStrategy’s successful integration of artificial intelligence into its business intelligence solutions marked a significant milestone in 2023.

However, amidst these financial advancements, MicroStrategy encountered a cybersecurity breach on Monday. The company’s X account fell victim to a hacking incident. This breach led to the dissemination of a fraudulent announcement promoting a new crypto token, MSTR, to the company’s substantial follower base.

The deceptive post, later removed, enticed users to claim free tokens by linking their wallets, resulting in significant financial losses for those ensnared by the scam. According to blockchain investigator ZachXBT, the phishing scheme has already siphoned off $440,000 from unsuspecting victims.