MicroStrategy, the world's largest corporate holder of Bitcoins, announced a new purchase of $340 million worth of BTC on Tuesday, June 27.
In the latest announcement, MicroStrategy chief Michael Saylor announced that the software intelligence firm had purchased 12,333 Bitcoins on Tuesday. In a message on Twitter, Saylor wrote:
MicroStrategy has acquired an additional 12,333 BTC or $347.0 million worth at an average price of $28,136 per bitcoin. As of 6/27/23, MicroStrategy holds 152,333 BTC worth $4.52 billion at an average price of $29,668 per bitcoin.
Since they took an aggressive move in Bitcoin in September 2022, MicroStrategy has been buying Bitcoin regularly. The company has managed to survive despite the crypto market crash.
Michale Saylor has been one of Bitcoin's biggest supporters and believes it can be a strong store of value under the current inflationary conditions in the global economy. Additionally, Saylor has been a strong supporter of Bitcoin's Layer-2 scalability platform, the Lightning Network, and believes that it will one day achieve greater transaction processing capabilities than VISA.
Since BlackRock and other financial giants filed for Bitcoin ETF shares this month, the price of BTC has soared and gained over 20% in less than a month. The latest announcement from MicroStrategy further reinforces institutional inflows into the crypto asset class.
