MicroStrategy has announced the acquisition of an additional 16,130 Bitcoins, a transaction amounting to approximately $593.3 million.
This purchase, which was being carried out between Nov. 1 and Nov. 29, averaged at $36,785 per coin, according to the company's regulatory filing.
This recent transaction has significantly bolstered MicroStrategy's Bitcoin holdings to an impressive total of 174,530 coins that were acquired at an average price of $30,252 per Bitcoin, including fees and expenses. The total investment by the company into Bitcoin now stands at a stunning $5.28 billion.
This strategic move follows MicroStrategy's previous purchase in October. Back then, the company acquired an additional 155 Bitcoins for a modest $5.3 million.
Michael Saylor, cofounder of MicroStrategy, recently predicted a significant price surge for Bitcoin in an interview with CNBC.
His bullish prediction is based on the upcoming "halving" event and potential approval of the first spot Bitcoin ETF, which he believes will increase demand and decrease supply.