MicroStrategy adds another 1,045 Bitcoin to its growing crypto treasury

MicroStrategy, the American business intelligence firm, has just announced its latest acquisition of an additional 1,045 Bitcoin ($BTC) for approximately $29.3 million at an average price of $28,016 per $BTC. This news was announced in a tweet by Microstrategy's executive chairman, Michael Saylor, on April 5.

MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv

— Michael Saylor⚡️ (@saylor) April 5, 2023

As of April 5, 2023, MicroStrategy holds a total of 140,000 Bitcoin, which were acquired for approximately $4.17 billion at an average price of $29,803 per $BTC. This news comes as a significant milestone for the company as it continues to invest in Bitcoin as a reserve asset.

Number 14 on Cointelegraph's Top 100 in crypto, Saylor has been an outspoken advocate for Bitcoin and has been leading the charge for corporations to adopt the largest cryptocurrency as a strategic asset. Saylor has repeatedly stated that Bitcoin is the most secure and reliable store of value that exists in the market today and that it offers a unique opportunity for businesses to protect their assets from inflation.

Saylor's MicroStrategy recently repaid its Silvergate loan and bought 6,500 $BTC at the end of March. The company's Bitcoin strategy appears to be a dollar cost averaging but with vast amounts of money.

Related: Michael Saylor is still on the hook for alleged tax evasion, says MicroStrategy filing

MicroStrategy made its first Bitcoin purchase in August 2020, and since then, the company has been consistently adding to its holdings. The latest purchase brings the total amount of Bitcoin owned by MicroStrategy to over $12.6 billion, which is a testament to the company's confidence in the long-term potential of the cryptocurrency.