Bitcoin for Christmas: MicroStrategy buys another $600M

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Business intelligence firm MicroStrategy purchased 16,130 Bitcoin ( $75,128.00 ) (BTC) in November, bringing its total holdings to more than $6 billion.

In a Nov. 30 announcement, MicroStrategy co-founder Michael Saylor said the company acquired the BTC for roughly $593.3 million — a price of $36,785 per Bitcoin ( $75,128.00 ) . As of Nov. 29, MicroStrategy reported it held 174,530 BTC — worth roughly $6.6 billion at the time of publication, at a price of $37,726.

MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoin. As of 11/29/23, @MicroStrategy now hodls 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin. $MSTR https://t.co/3XHhpIvsuA

— Michael Saylor⚡️ (@saylor) November 30, 2023

The business intelligence firm has consistently purchased large volumes of Bitcoin ( $75,128.00 ) since announcing it would adopt the cryptocurrency as its treasury reserve asset in August 2020. Saylor’s last announcement was in September, reporting MicroStrategy bought 5,445 BTC for roughly $147 million.

MicroStrategy’s Bitcoin ( $75,128.00 ) purchase announcement followed as the price of the cryptocurrency rose roughly 10% in November. The firm reported a gain of $900 million for its Bitcoin ( $75,128.00 ) holdings in the third quarter of 2023, with CEO Phong Le hinting at the time the company would continue to make consistent purchases.

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