MicroStrategy acquires 55,500 BTC for $5.4B

MicroStrategy, led by Michael Saylor, has shattered its previous record with a single purchase of 55,500 BTC (CRYPTO:BTC), valued at approximately $5.4 billion.

This acquisition, at an average price of $97,862 per Bitcoin, further cements the firm’s status as the largest corporate holder of the cryptocurrency.

The purchase brings MicroStrategy’s total Bitcoin holdings to 386,700 BTC, acquired at an average price of $56,761.

With Bitcoin trading near $98,000, the company's holdings are now worth approximately $38 billion, yielding an unrealised profit of over $16 billion.

This move follows last week’s record-breaking acquisition of 51,780 BTC, worth $4.6 billion.

Saylor described it as the “biggest single Bitcoin buy,” only to surpass it with this latest purchase.

MicroStrategy has invested nearly $22 billion in its Bitcoin strategy to date.

The firm's aggressive Bitcoin acquisitions have significantly impacted its stock performance.

MicroStrategy’s stock has surged by over 500% since the start of the year, even amid recent market dips.

Trading volumes for the company's shares have, at times, exceeded those of major corporations like Apple, Amazon, and Meta combined, showcasing heightened investor interest.

Saylor’s Bitcoin strategy has transformed MicroStrategy into a focal point for crypto enthusiasts and institutional investors alike.

By continuously increasing its holdings, the company reinforces its commitment to Bitcoin as a primary reserve asset.

At the time of reporting, the Bitcoin (BTC) price was $93,070.66.