MicroStrategy Bought Another 155 Bitcoin in October

MicroStrategy founder Michael Saylor said the company purchased another 155 bitcoin for $5.3 million in October. The company now holds a total of 158,400 bitcoin, the average cost of purchase is $29,586.

Andrew Kang, chief financial officer at MicroStrategy said in the company's earning statement:"Our commitment to acquire and hold bitcoin remains strong, especially with the promising backdrop of potential increased institutional adoption".

Investors and analysts are beginning to debate whether MicroStrategy’s shares will continue to command a Bitcoin-related premium, given that the US Securities and Exchange Commission seems likely to approve bitcoin spot ETFs.