MicroStrategy, one of the largest institutional Bitcoin investors in the world, announced a $15 million purchase of BTC on Thursday. With this purchase, the company has added another 271 bitcoins (BTC) to its balance sheet, underlining CEO Michael Saylor’s belief in the digital asset.
Saylor announced that the purchases were made through May 13 at an average price of $55,500 per BTC. This brings the total Bitcoin held by MicroStrategy to 91,850 BTC.
MicroStrategy tops the list of corporate investors at the time of writing, accounting for 0.4% of the circulating supply of BTC. MicroStrategy says it saves Bitcoin on the assumption that the digital asset is a reliable store of value.