MicroStrategy, a major holder of Bitcoin, has recently acquired 15,000 BTC, worth around $1.5 billion. This purchase brings their total Bitcoin holdings to 438,650 BTC, valued at approximately $45.6 billion.
MicroStrategy's Bitcoin acquisition strategy is driven by its founder, Michael Saylor, who believes in Bitcoin as a long-term store of value. The company's recent purchases align with changes in accounting standards for digital assets, allowing companies to report gains and impairments on digital assets using fair value accounting.
The company has invested a total of $27.1 billion in Bitcoin, with an average purchase price of $61,725 per coin.
MicroStrategy's stock price has seen positive growth, rising over 5% in pre-market trading.
The company has substantial liquidity and financial flexibility to capitalize on future market developments and expand its cryptocurrency holdings. MicroStrategy's strategic moves reflect the growing acceptance of digital assets in traditional financial frameworks.