U.S.-based software giant MicroStrategy ended its brief silence by purchasing approximately $472.5 million worth of Bitcoin (BTC).
MicroStrategy, known globally as the largest corporate Bitcoin investor, typically announces regular BTC purchases every Monday. However, last week the company deviated from this routine by not disclosing any new purchases, briefly surprising the market. This week, however, the company resumed its investments, buying a total of 4,225 BTC at an average price of $111,827 between July 7 and July 13, according to co-founder Michael Saylor.
With this latest acquisition, MicroStrategy now holds a total of 601,550 BTC. The company has spent approximately $42.87 billion on these investments to date, at an average cost of around $71,268 per Bitcoin. Given the current Bitcoin market price of about $122,000, MicroStrategy’s BTC holdings are now valued at over $73 billion, highlighting the significant returns the company has realized from its cryptocurrency strategy.
