Microstrategy firm is now holding 152,800 bitcoins and planning to buy more
MicroStrategy firm is planning to purchase $750 million worth of Bitcoins in the upcoming months.
Microstrategy is a US-based Nasdaq-listed public company. Since 2020, this business intelligence firm is buying Bitcoin to become a Bitcoin bull company. Former Microstrategy CEO Michael Saylor is the main mastermind behind the Bitcoin buy plans. At present, Microstrategy holds a total of 152,800 Bitcoins on the company’s balance sheet.
On 2 August 2023, Microstrategy co-founder Saylor shared the company’s Bitcoin related financial activities, as a part of the Q2 earning report.
Saylor confirmed that the company purchased a total of 467 BTC for $14.4 million just recently and now the company holds a total of 152,800 BTC.
At the current trade price, Microstrategy is in net profit, as the Bitcoin trade price surged rapidly following the several Bitcoin spot ETFs applications filed with the United States Securities Exchange Commission (SEC).
Chinese Crypto blogger Colin Wu reported that Microstrategy purchased a total of 12,333 Bitcoins in the second quarter of this year and this is the highest purchase by this Nasdaq-listed firm over any quarter since 2021.
The company’s filing confirmed that it is planning to sell $750 million worth of stocks and the further company will utilize that fund to purchase Bitcoin & some other uses.
MSTR stock price action
Microstrategy trades on the Nasdaq exchange under the Index MSTR. Following the Q2 earning report, MSTR stock failed to grab an increment in its trade price.
The current trade price of MSTR stock is $434.98 & this trade price is 0.5% down over the last 5 days of trade price.
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