MicroStrategy buys approximately $600 million worth of virtual currency Bitcoin

Increased purchases for 3 consecutive months

MicroStrategy announced on the night of the 30th that it had once again increased its purchases of the virtual currency Bitcoin. (Stock price: -1.5% compared to the previous day)

MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoinAs of 11/29/23, @MicroStrategy now hodls 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin. $MSTR https://t.co/hSEZyzGBsr

— Michael Saylor (@saylor) November 30, 2023

This time, he acquired 16,130 BTC of Bitcoin for an amount of $593 million. The average acquisition price was $36,785. With this additional purchase, the company’s Bitcoin holdings increased to 174,530 BTC, pushing the overall average acquisition cost to $30,252 from $29,586 (as of November 1st).

This increase in purchases is the third consecutive month since September, and the total investment amount to date has reached $5.28 billion.

The company’s Bitcoin portfolio went from unrealized losses to unrealized gains for the first time in about three months when Bitcoin returned to the 30,000 level at the end of October, and is currently estimated at $1.3 billion.

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In addition, in August, the company announced in its earnings report for the second quarter of 2023 (April to June) that it would raise $750 million by issuing new shares in order to continue investing in Bitcoin.

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