Software company MicroStrategy has been continuously buying bitcoins for the past three years.
It first purchased the cryptocurrency in August 2020. The first batch amounted to just over 21,000 BTC.
MicroStrategy CEO Michael Saylor this week announced on Twitter that it will acquire another batch of bitcoins in August-September 2023.
The investment in the digital currency totaled $147.3 million. The company purchased 5,445 BTC, according to a report filed with the U.S. Securities and Exchange Commission.
Thus, MicroStrategy’s total reserves rose to 158,245 BTC worth $4.68 billion.
The previous purchase of cryptocurrency took place in June 2023. At that time, the company purchased 12,333 bitcoins. 1 BTC cost MicroStrategy, on average, $29,668.
The IT giant is buying the digital currency amid a dominant bearish trend in the cryptosphere.
BTC is trying to hold above $26,000, although many analysts believe the cryptocurrency will fall to $25,000 if the pressure intensifies.