MicroStrategy (now Strategy) Buys the Dip, Acquiring 22,048 Bitcoin for US$1.92B

Capitalising on a recent price dip, the firm, formerly known as MicroStrategy, has acquired 22,048 Bitcoin for US$1.92B (AU$3.08B)

MicroStrategy, helmed by Bitcoin aficionado Michael Saylor, has made a bulk purchase of 22,048 Bitcoin for a tidy sum of US$1.92B.

As of 31 March, the firm’s latest buy, made during a recent price dip, brings the total to over 528,000 bitcoins, acquired for a staggering US$35.63B at an average cost of US$67,458 per coin.

Saylortracker data indicates that Strategy’s Bitcoin investments have appreciated by over 21%, generating unrealised profits in excess of US$7.7B.

The firm’s aggressive buying spree began following the recent US elections, which saw anticipated regulatory changes and a potential shift in the economic landscape, making way for renewed interest in digital assets.

Despite a period of slower BTC acquisitions, and even getting outstripped by its Japanese version, Strategy’s latest buy, during which it purchased nearly US$2B worth of Bitcoin as the coin’s price slid to around US$82,500, has propelled the firm’s portfolio value.