MicroStrategy Resumes BTC Purchases with Fresh $370M Acquisition
MicroStrategy has resumed its Bitcoin (BTC) purchases after reaching a breakeven point in its previous investments. The company has acquired an additional 4603 BTC at approximately $80,318 per coin, totaling around $370 million. This purchase was funded by the sale of MicroStrategy's shares, worth about $600 million.
This new acquisition brings MicroStrategy's total Bitcoin holdings to over 8.45 million coins, valued at around $66.27 billion, with an average cost of around $75,412 per coin. The company has reported a significant unrealized gain of around $2.54 billion from its BTC investments.
Bitmine, another entity, continued its Ethereum (ETH) accumulation by purchasing 53,501 ETH for about $132 million at $2,464 per coin. Bitmine's total ETH holdings now stand at over 5.9 million coins, worth around $14.48 billion, with an average cost of $3,351 per coin.