MicroStrategy acquired 1,045 Bitcoin for around US$29.3 million, at an average price of US$28,016 per coin, between March 24 and April 4, 2023, said Michael Saylor, MicroStrategy’s co-founder and executive chairman.

See related article: Weekly Market Wrap: Bitcoin pops above US$29,000, market shrugs off Binance legal woes

Fast facts

• This brings MicroStrategy’s total Bitcoin holdings to 140,000 coins, acquired for approximately US$4.17 billion, bought at an average price of US$29,803 per Bitcoin, according to Saylor’s Wednesday announcement.

• Saylor’s announcement comes a week after MicroStrategy announced purchasing 6,555 Bitcoin for around US$150 million.

• Bitcoin rose 0.73% in the 24 hours to 8:30 p.m. in Hong Kong, to trade at US$28,558, according to CoinMarketCap data.

• As the world’s largest corporate Bitcoin holder, MicroStrategy’s Bitcoin acquisition could boost sentiment among crypto investors.

• Saylor stepped down from his role as CEO to become executive chairman last August, and to focus on the company’s “Bitcoin acquisition strategy and related Bitcoin advocacy initiatives.”

• Following news of the purchase, Microstrategy’s shares rose 0.53% during the day to trade at US$298,98 at 8:30 p.m. in Hong Kong. MicroStrategy’s shares have risen over 106% year-to-date, while Bitcoin values strengthened 71% in the same period.

See related article: MicroStrategy’s share price hits 2-month high following Saylor reshuffle