As an American business intelligence company, MicroStrategy continues to increase its investments in the high-value digital currency, Bitcoin, as a reserve asset. The company recently disclosed its latest purchase of an additional 1,045 Bitcoin for approximately $29.3 million, at an average price of $28,016 per BTC.
With this recent purchase, MicroStrategy now owns a total of 140,000 Bitcoin as of April 5, 2023, which were purchased for approximately $4.17 billion at an average cost of $29,803 per BTC. This information marks a major turning point for the company, which continues to invest in Bitcoin as a reserve asset.
As a financial expert, I believe that MicroStrategy’s investments in Bitcoin reflect its appreciation for its high value and potential use as a tool to preserve wealth. Thus, these investments may encourage more companies to use Bitcoin as a reserve asset, reflecting business confidence in the future economic prospects of the digital currency.
