{"id":292471,"date":"2024-04-30T03:23:09","date_gmt":"2024-04-29T21:53:09","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=292471"},"modified":"2024-04-30T03:23:09","modified_gmt":"2024-04-29T21:53:09","slug":"microstrategy-bags-122-bitcoin-to-expand-its-portfolio-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/microstrategy-bags-122-bitcoin-to-expand-its-portfolio-crypto-news\/","title":{"rendered":"MicroStrategy Bags 122 Bitcoin To Expand Its Portfolio – Crypto News"},"content":{"rendered":"

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In April alone, business intelligence and software company MicroStrategy <\/span>acquired<\/span><\/a> an additional 122 units of Bitcoin (BTC) worth about $7.8 million<\/span><\/p>\n

MicroStrategy Keeps Growing Its BTC Portfolio<\/strong><\/h2>\n

MicroStrategy\u2019s Michael Saylor<\/span><\/a> announced that the last acquisition brings the firm\u2019s Bitcoin holding to a total of 214,400 BTC. This news was unveiled in addition to MicroStrategy\u2019s Q1 earnings report. Based on the published statement, the entire BTC holding was acquired at an average price of $35,180 per unit.\u00a0<\/span><\/p>\n

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\u201cWe acquired 25,250 additional bitcoins since the end of the fourth quarter, our 14th consecutive quarter of adding more bitcoin to our balance sheet,\u201d Andrew Kang, MicroStrategy Chief Financial Officer said.\u00a0<\/span><\/p>\n

Andrew Kang further explained that the combination of the firm\u2019s BTC strategy, operating structure, and focus on technology innovation has been pivotal to meeting up with value creation for its stakeholders.\u00a0<\/span><\/p>\n

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Coingape reported MicroStrategy\u2019s Bitcoin acquisition in March. Per the report, the firm <\/span>acquired 9,245 BTC<\/span><\/a> which pushed the firm\u2019s total Bitcoin holdings to 214,246 BTC at the time. It was later increased to 214, 278 BTC. Seeing that its total BTC holding is now at 214,400 BTC, the firm purchased only 122 Bitcoin units in April.\u00a0<\/span><\/p>\n

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MicroStrategy Still In Profit With Bitcoin Price Dip<\/strong><\/h2>\n

The price of the flagship cryptocurrency at the time of this writing was $63,002.57 with a 0.99% decrease over the last 24 hours. Even with the significant drop of the coin from its all-time high (ATH) of over $73,000 in mid-March, this current price suggests that <\/span>MicroStrategy is currently in profit<\/span><\/a> in terms of its Bitcoin holding.<\/span><\/p>\n

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As of March 31, 2024, the market value of the company\u2019s Bitcoin was $15.220 billion while its original cost basis was $7.535 billion. With these huge profit margin, MicroStrategy still has no plans of selling its Bitcoin stack.<\/span><\/p>\n

The firm took note of the fact that the presence of <\/span>spot Bitcoin ETFs<\/span><\/a> in the market has contributed significantly to the price growth that Bitcoin has seen since January when the offering was approved by the United States Securities and Exchange Commission (SEC). Bitcoin ETFs pushed institutional demand for Bitcoin to new levels and also prompted the release of further regulatory clarity, according to Kang.<\/span><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In April alone, business intelligence and software company MicroStrategy acquired an additional 122 units of Bitcoin (BTC) worth about $7.8 million MicroStrategy Keeps Growing Its BTC Portfolio MicroStrategy\u2019s Michael Saylor announced that the last acquisition brings the firm\u2019s Bitcoin holding to a total of 214,400 BTC. This news was unveiled in addition to MicroStrategy\u2019s Q1 […]<\/p>\n","protected":false},"author":2,"featured_media":178723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-292471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=292471"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292471\/revisions"}],"predecessor-version":[{"id":292473,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292471\/revisions\/292473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/178723"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=292471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=292471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=292471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}