“MicroStrategy’s $1.5B Bitcoin Buy: 402,100 BTC Stash Now Worth $38B!”

The company now holds more than 400,000 BTC.

Monday begins on a similar note for Bitcoin enthusiasts as MicroStrategy has made another massive acquisition, this time for $1.5 billion in BTC.

Popular Bitcoin bull Adam Back was quick to praise the company’s move, describing the average entry of $95,976 as a ‘good price.’

This is the third consecutive Monday that the Michael Saylor-founded business intelligence behemoth has announced a substantial BTC purchase. Although the firm spent roughly $1.5 billion to acquire 15,400 BTC now, it still trails behind the record set last week of 55,500 BTC (worth $5.4 billion at the time).

With its latest acquisition, MicroStrategy’s total Bitcoin stash has risen to 402,100 BTC, bought at an average price of $58,263.

This means that the firm has spent almost $23.5 billion to accumulate its Bitcoin holdings. Given the asset’s current price of just over $95,000, this puts the value of the stash at well above $38 billion – or a paper gain of nearly $15 billion.

Blockstream’s co-founder and long-time Bitcoin supporter Adam Back commented on Saylor’s post, saying that “suckers” sold their BTC at prices below $100,000 to Saylor and MicroStrategy over the weekend.