{{articledata.title}}

U.S. software company %MicroStrategy (NASDAQ: MSTR) has purchased an additional 3,000 %Bitcoin ($BTC ) for $155 million U.S., bringing the value of the company's total holdings in the largest cryptocurrency to $10 billion U.S.

MicroStrategy’s new Bitcoin purchases were made between Feb. 15 and 25 at an average price of $51,813 U.S. each, according to a filing with the U.S. Securities and Exchange Commission (SEC).

The company now holds 193,000 Bitcoin purchased for $6.09 billion U.S., or an average price of $31,544 U.S. each.

With an unrealized profit on its Bitcoin of about $4 billion U.S., the value of MicroStrategy’s holdings in the digital asset now stands at $10 billion U.S., making the company the largest corporate owner of Bitcoin in the world.

While MicroStrategy technically remains a company that develops business intelligence software, it has increasingly moved to focus on cryptocurrencies in recent years.

MicroStrategy chief executive officer (CEO) Michael Saylor is among the biggest crypto bulls and sees the price of Bitcoin rising sharply from its current level of $51,250 U.S.

In a recent interview with Bloomberg Television, Saylor said he sees no reason to sell Bitcoin anytime soon, adding that, in his view, “Bitcoin is the exit strategy.”

Because of its large holding of Bitcoin, MicroStrategy’s stock often follows the movements of Bitcoin up and down.

So far in 2024, MicroStrategy’s stock is flat, though it has gained 165% over the last 12 months to currently trade at $687.44 U.S. per share.