MicroStrategy, a business intelligence and software firm, has further demonstrated its dedication to Bitcoin by acquiring an additional 122 Bitcoin in April for a total cost of $7.8 million, according to an announcement by Founder and Chairman Michael Saylor.

President and Chief Executive Officer at MicroStrategy Phong Le stated:

As the world’s first Bitcoin Development Company, MicroStrategy is committed to the continued development of the Bitcoin network through our activities in the financial markets, advocacy and technology innovation. It is through our unique Bitcoin strategy and solid track record as an operating company that we now hold 214,400 Bitcoin at an average purchase price of $35,180 per Bitcoin.

The company first ventured into the Bitcoin market in August 2020, with a substantial initial investment of $250 million in Bitcoin. 

Since that time, they have regularly increased their Bitcoin reserves, developing a treasury strategy that now includes over 214,400 Bitcoin valued at more than $15.5 billion.

MicroStrategy's CFO, Andrew Kang, reported that the company raised over $1.5 billion in the first quarter through two convertible debt offerings. They acquired an additional 25,250 Bitcoin, continuing to increase their holdings for the 14th consecutive quarter. 

Kang highlighted that their operational strategy, focus on innovation, and Bitcoin investments uniquely position them to create shareholder value. 

He also noted that the significant rise in Bitcoin prices this year was largely driven by the approval of spot Bitcoin exchange-traded products, which increased institutional interest and regulatory clarity.

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