According to Michael Saylor's statement, MicroStrategy bought Bitcoin (BTC).
Saylor gave the details in the purchase announcement as follows:
“MicroStrategy bought another 12,333 BTC for ~$347.0 million at an average price of $28,136 per Bitcoin. As of June 27, 2023, MicroStrategy has 152,333 BTC worth ~$4.52 billion at an average price of $29,668 per bitcoin.”
MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. $MSTR https://t.co/joHo1gEnR0
— Michael Saylor⚡️ (@saylor) June 28, 2023
MicroStrategy is one of the foremost institutional adopters of BTC as a store of value and a hedge against inflation.
The company's CEO, Michael Saylor, is known as a strong advocate of BTC and has repeatedly stated that he believes Bitcoin is superior to cash and other assets.
MicroStrategy's Bitcoin purchases are part of a treasury reserve policy aimed at maximizing their long-term value for their shareholders. The company also offers its customers the ability to purchase its products and services using BTC.
*Not investment advice.
