MicroStrategy Increases Bitcoin Reserves to 158,400 BTC
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MicroStrategy bought 155 BTC valued at $5.3 million last month, bringing its holdings to 158,400 BTC or about $5.6 billion.

According to the third quarter financial report shared by the company, total purchases of the crypto during the period amounted to 6,067 BTC with an average price of $27,531.

Andrew Kang, CFO of MicroStrategy, has said:

"Our commitment to acquire and hold bitcoin remains strong, especially with the promising backdrop of potential increased institutional adoption."

MicroStrategy founder Michael Saylor has noted that since the company made the decision to invest in BTC on August 10, 2020, its share price has risen 242%. In turn, the price of the crypto has jumped 192% during this period.

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At the end of the third quarter, MicroStrategy reported annualized total revenue growth of 3.3% to $129.5 million.

According to BitcoinTreasuries, the potential profit from the company's Bitcoin position is approximately $900 million.

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