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MicroStrategy Buys More Bitcoin Amid Ongoing Treasury Accumulation

Guavy AI Editorial Team
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BTC
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MicroStrategy's stock price fell by 0.75% on Monday despite the company adding another 1,665 BTC to its treasury holdings. The purchase cost approximately $142.7 million and brings the total number of BTC held by MicroStrategy to 847,666.

The company acquired the new BTC between September 21st and 27th at an average price of $85,681 per coin. This latest addition takes the value of MicroStrategy's BTC holdings to around $70.6 billion based on current prices.

According to executive chairman Michael Saylor, this represents more than 4% of Bitcoin's 21 million supply cap. The company's total costs for its BTC holdings amount to approximately $64 billion including fees and expenses.

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