UpdatesMay 08, 2023

MicroStrategy has been buying Bitcoin for 11 consecutive quarters

A popular American corporation dealing with business analysis has consistently invested in the oldest cryptocurrency.

MicroStrategy has consistently increased its Bitcoin holdings for 11 consecutive quarters. The American company mentioned above started collecting BTC from August 2020. This corporation is currently the largest public company investing long-term in the leading digital currency. So far, the people responsible for managing this entity have already collected as much as 140,000 Bitcoins at an average price of $29,803 per coin.

MicroStrategy has been buying Bitcoin for 11 consecutive quarters

The popular American business analytics company has been collecting BTC units regularly since August 2020. MicroStrategy bought Bitcoin every quarter. This has been the case since adopting an investment strategy related to the leading cryptocurrency.

Currently, the above-mentioned American corporation has as much as 140,000 BTC in its portfolio. The average cost of a single Bitcoin purchase by MicroStrategy is $29,803. All this means that at the current exchange rate of the oldest of the digital currencies (around USD 27.9 thousand), MicroStrategy records an unrealized loss on this investment.

The corporation, whose executive director is Michael Saylor, seems determined to keep Bitcoin on its balance sheet despite the volatile price of this digital currency and the cryptocurrency winter that intensely demolished the market in 2022. Moreover, this company intends to further increase its exposure to BTC.

Through the oldest digital currency, MicroStrategy pursues its capital allocation strategy, which is primarily aimed at maximizing long-term value for its shareholders. Michael Saylor firmly pointed out that the largest of the digital currencies is a historically reliable choice and an extremely attractive investment asset with a much greater long-term appreciation potential than holding cash.

Bitcoin is getting cheaper

Although BTC has lost a significant part of its value since the price ATH that we could observe in November 2021, MicroStrategy continued its purchase even in 2022. Currently, the leading cryptocurrency is almost 60% away from the all-time record.

It is worth noting that from the January low of this year near USD 16.5 thousand to the line above USD 31 thousand, the BTC rate jumped by nearly 88%. Currently, however, after the correction, one coin changes hands at a price of $ 27.9 thousand. In the last 24 hours, BTC has become cheaper by over 3%.