U.Today - , the business intelligence firm led by Michael Saylor, made headlines once again with its recent announcement of a substantial Bitcoin purchase. Between April 29, 2023, and June 27, 2023, MicroStrategy and its subsidiaries acquired approximately 12,333 Bitcoin for a whopping $347 million in cash. The average price per BTC stood at approximately $28,136, inclusive of fees and expenses.
This acquisition marks the largest purchase by MicroStrategy this year, surpassing its previous purpose in March and April, which totaled 7,500 BTC worth $179.3 million.
Curse of Microstrategy or FUD?
Interestingly, Saylor and MicroStrategy's Bitcoin purchases have been regarded by seasoned market participants as a potential signal of a local top for BTC prices. Notably, on the day of Saylor's penultimate announcement in March, the price of experienced a 5% drop. Similarly, on April 5, following another purchase by MicroStrategy, Bitcoin's price fell by over 3% during the day.BTC to USD by Despite these observations, it is important to note that has demonstrated consistent growth since those instances. In fact, after both purchases, the cryptocurrency experienced subsequent increases of 8% and 11%, respectively.
As of now, MicroStrategy, along with its subsidiaries, boasts an impressive aggregate holding of approximately 152,333 Bitcoin. These digital assets were acquired at an aggregate purchase price of around $4.52 billion, with an average purchase price of roughly $29,668 per BTC, inclusive of fees and expenses.