MicroStrategy Marks 5 Years with 155 BTC Buy
MicroStrategy’s Bitcoin strategy reached its five-year mark with a fresh acquisition of 155 BTC for $18 million at an average price of $116,401.
Since August 11, 2020, the firm has built its BTC holdings to 628,946 coins, investing approximately $46.1 billion at an average cost of $73,288.
At current Bitcoin prices near $120,000, these holdings are valued at over $75 billion, yielding unrealized gains exceeding $30.6 billion. The latest buy lifted MSTR shares by nearly 3% pre-market.
To fund its Bitcoin purchases, MicroStrategy has raised more than $46 billion via Bitcoin-backed equity and credit and recently filed a $4.2 billion shelf registration for future acquisitions.
Bitcoin trades around $119,500 with rising volume as analysts project a potential run to $135,000, while cautioning the market may peak before October.
Bullish
MicroStrategy’s continued accumulation of Bitcoin, underscored by its milestone 155 BTC purchase and substantial unrealized profits, reinforces strong institutional demand. The immediate 3% rally in MSTR shares and rising trading volumes suggest positive sentiment. Analysts’ bullish price targets for Bitcoin further support upward momentum, despite warnings of a potential short-term peak. Overall, the news should underpin near-term price gains and bolster long-term confidence in BTC’s growth trajectory.