MicroStrategy purchased 122 Bitcoin in April and now holds 214,400 BTC.

MicroStrategy, a leading business intelligence and software company, continues its unwavering commitment to Bitcoin by purchasing an additional 122 BTC in April for a total of $7.8 million, founder and chairman Michael Saylor announced today.

BREAKING NEWS: MicroStrategy buys 122 more. #Bitcoin For $7.8 million. pic.twitter.com/IZWUNj0kHY

— Bitcoin Magazine (@BitcoinMagazine) April 29, 2024

“As the world’s first Bitcoin development company, MicroStrategy is committed to the continued development of the Bitcoin network through financial markets activity, advocacy, and technological innovation,” said Phong Le, President and CEO of MicroStrategy. “Through our unique Bitcoin strategy and strong track record as an operating company, we currently hold 214,400 Bitcoins at an average purchase price of $35,180 per Bitcoin.”

The company first entered the Bitcoin market in August 2020, making a significant initial investment of $250 million in BTC. Since then, they have continuously increased their Bitcoin holdings, establishing a treasury reserve strategy that has resulted in over 214,400 Bitcoins worth over $15.5 billion at the time of this writing.

“In the first quarter, we re-executed our capital markets strategy, including two successful convertible note offerings, raising more than $1.5 billion,” said Andrew Kang, Chief Financial Officer of MicroStrategy. “We have acquired an additional 25,250 Bitcoin since the end of the fourth quarter, marking our 14th consecutive quarter of adding Bitcoin to our balance sheet. We believe that the combination of our operating structure, Bitcoin strategy, and focus on technological innovation provides a unique opportunity to create value for our shareholders. “Year to date, the price of Bitcoin has risen significantly, particularly driven by increased institutional demand and the acceptance of spot Bitcoin exchange-traded products with greater regulatory clarity.”

Less than two weeks after Bitcoin experienced its fourth halving event, which halved the mining reward per block from 6.25 to 3.125 BTC, MicroStrategy continues its aggressive BTC investment strategy with no signs of slowing down.