Bitcoin price has surpassed $29,250, and a great news has come that has caused a drop in the past multiple times. Yes, Saylor’s company has announced that they have bought Bitcoin again, and the Bitcoin price seems to have lost its momentum with the announcement of this critical threshold at the time of preparing this article.
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Michael Saylor’s company, MicroStrategy, which is the biggest institutional Bitcoin bull, announced that they bought 467 BTC in July. With this recent purchase, the total amount of Bitcoin in the company’s reserves reached 152,800 BTC. MSTR shares, which have turned into an indirect Bitcoin ETF, are finding their place in the reserves of many companies, including BlackRock. This shows that BlackRock and other asset management companies are making indirect Bitcoin investments on behalf of their clients.
The company, which holds 152,800 BTC in its reserves, is seen as an alternative to Spot Bitcoin ETF. The performance of the share also follows the BTC price movements.
Saylor said the following:
“In July, MicroStrategy bought 467 more BTC for $14.4 million and now we have 152,800 BTC…”
The company, which has bought $361.4 million worth of BTC since the first quarter, has accumulated 12,800 BTC with an average cost of $28,233. As of July 31, 2023, MicroStrategy has a total of 152,800 Bitcoins, worth $4.53 billion, with an average cost of $29,672.
