News View Non-AMP

MicroStrategy Acquired an Additional 155 BTC for $5.3 Million In October

Published by
Nidhi Kolhapur

Yesterday, MicroStrategy, the renowned independent business intelligence enterprise, disclosed its financial results for the third quarter of its fiscal year 2023, which ended September 30, 2023.

How Much Bitcoin Microstrategy Holds ?

MicroStrategy has consistently shown a deep interest in Bitcoin, further solidifying its position in the cryptocurrency world with an additional purchase of 6,067 bitcoins. This acquisition, amounting to $167 million, pegs the average cost at approximately $27,531 per Bitcoin. As of the time of writing, the company’s total bitcoin holdings have escalated to 158,400, with a cumulative investment of $4.7 billion, averaging at $29,586 per bitcoin.

Getting into the company’s financial health, MicroStrategy has reported a total revenue of $129 million for the third quarter, marking a 3% growth compared to the same period in the previous year.

Bitcoin Price Analysis

Bitcoin has been undergoing a tug-of-war between the bulls aiming to push its value over $35,300, and the bears determined to pull it back, as observed on November 1. This indicates that some investors are taking profits when the price hits the higher levels.

The Relative Strength Index (RSI), a tool used to measure the speed and change of price movements, is still in the overbought territory. This situation hints at a possible continuation of the current consolidation phase for a few more days. Key price levels are now in the spotlight. 

On the upper side, $35,300 is the crucial point to watch, as a breakout could signal a strong upward momentum. Conversely, the support level at $33,500 is equally important; a drop below this could lead to a decline towards the 20-day exponential moving average, positioned at $32,000.

In the event that the bulls triumph and the price surges past the overhead resistance at $35,300, it could pave the way for a continuation of the upward trend, potentially lifting the value of Bitcoin to the $40,000 mark. At the time of writing, Bitcoin is valued at $35,536.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Chamath Palihapitiya Highlights 5 Key Trends Fueling Crypto Growth in 2025

After Donald Trump returned to office with a pro-crypto stance, crypto deal-making has exploded in…

April 28, 2025

WazirX News: 85% Fund Recovery Plan Explained for Affected Users

The Supreme Court recently dismissed a petition filed by WazirX users following the platform’s major…

April 28, 2025

Ethereum’s Ambitious Plan to Scale TPS to 2,000 with 100x Gas Limit Boost

Dankrad Feist, a researcher from Ethereum, has unveiled a four-year plan to increase the blockchain’s…

April 28, 2025

Nexo Returns to the U.S. Market with New Offerings

Nexo has officially reentered the U.S. market, offering high-yield crypto savings accounts, asset-backed credit lines,…

April 28, 2025

China and U.S. Reduce Bitcoin Reserves, Total Government Holdings Fall 12% in Nine Months

Governments around the world continue to play an important role in the crypto space. However,…

April 28, 2025

Crypto Market Update Today: BTC and ETH Display Stability While PENGU, XMR, WAL Gain Massive Strength

After the rise in the past week, the investors have become more optimistic about the…

April 28, 2025