Business intelligence firm MicroStrategy made waves this week with the disclosure that it purchased over $593 million worth of bitcoin in November.
The sizable purchase of 16,130 tokens was MicroStrategy’s largest bitcoin acquisition since February 2021, when the company spent $1 billion to add nearly 20,000 bitcoins to its corporate treasury.
Keypoints
- MicroStrategy purchased $593.3 million worth of bitcoin in November, its largest bitcoin buy since February 2021 when it spent $1 billion
- The purchase of over 16,000 bitcoins brings MicroStrategy’s total bitcoin holdings to around 174,530 tokens, now worth about $6.5 billion
- MicroStrategy Chairman Michael Saylor aims to acquire as much bitcoin as possible, believing it will increase 10x in value again
- MicroStrategy stock price has mirrored bitcoin’s surge, with shares up 175% in 2023 alongside bitcoin’s 127% price jump
- Purchase comes amid growing Wall Street…
