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<div class="cryptonews">
 <p class="is-style-lead">Michael Saylor’s digital software giant bought 16,130 BTC, increasing the worth of the company’s total Bitcoin holdings to over $6 billion at current prices.</p>
 <p>MicroStrategy, one of the largest corporate holders of Bitcoin (BTC), bought more of crypto’s leading token by market cap according to founder Michael Saylor and a Nov. 29 filing with the Securities and Exchange Commission (SEC).</p>
 <p>Saylor’s firm purchased an additional 16,130 BTC at an average price of $36,785 per Bitcoin. This scoop raised MicroStrategy’s total Bitcoin portfolio to some 174,530 coins acquired for&nbsp; $30,252 on average.</p>
 <p>As crypto.news reported, MicroStrategy spent $5.3 million bolstering its BTC holdings following the close of Q2 2023.</p>
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    <p lang="en" dir="ltr">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</p>— Michael Saylor️ (@saylor) November 30, 2023
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 <p>With Bitcoin’s price trading above $37,600 at press time, per Coingecko, MicroStrategy’s BTC net worth sits around a staggering $6.5 billion. The company started buying Bitcoin in 2020 amid global economic uncertainty as a means of hedging its balance sheet against rising inflation.&nbsp;</p>
 <p>Since then Bitcoin has increased in value severalfold, peaking at $69,000 during the height of crypto’s bull run in 2021 and possibly making its way back to all-time highs on the back of spot Bitcoin ETF optimism.</p>
 <p>BTC has recorded price rallies in recent months due to news and speculations surrounding Bitcoin ETF applications filed by Wall Street titans, such as BlackRock. Crypto-native entities like Grayscale and Hashdex have also submitted bids for the same product, which experts say would attract billions of dollars into crypto.&nbsp;</p>
 <p>BlackRock and other issuers have modified their respective filings in response to SEC feedback, a move that has likely increased anticipation that approvals could roll out sooner rather than expected.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> SEC Chair Gary Gensler comments on prospects for spot Bitcoin ETF
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-apes-593m-into-bitcoin-tbt72228.html">https://thebittimes.com/microstrategy-apes-593m-into-bitcoin-tbt72228.html</a></p>

MicroStrategy apes $593m into Bitcoin

TheBitTimes

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