MicroStrategy Continues Its Bitcoin Purchases: 168 BTC Added.

The cryptocurrency market continues to witness interesting developments in recent times. The most notable news of this week is that MicroStrategy has continued its Bitcoin (BTC) purchases without slowing down. This week, the company bought an additional 168 Bitcoin, raising its total holdings to 640,418 Bitcoin.

The US-based software giant MicroStrategy announced its routine Bitcoin update, which it conducts every Monday, revealing that it made another purchase. The company's founder, Michael Saylor, stated in a post on X that the 168 Bitcoin were purchased at an average price of $112,051. The total amount of this purchase was recorded at approximately $18.8 million.

Saylor also mentioned that the company has achieved a Bitcoin yield of 26% since the beginning of the year. Following this latest purchase, MicroStrategy's total Bitcoin holdings have reached 640,418 Bitcoin. The total cost of all purchases made by the company to date is approximately $47.40 billion, with an average cost of $74,010.

Since 2020, MicroStrategy has positioned itself as the largest institutional Bitcoin investor in the market by basing its corporate reserve strategy on Bitcoin. The company shares regular Bitcoin purchase announcements every Monday, and this steady purchasing policy has managed to earn the trust of long-term investors. Additionally, potential bull cycles in the market are thought to be regarded as a sign of institutional confidence.