MicroStrategy invests another $50 million in Bitcoin at just over $19,000 per coin

The analytics software provider MicroStrategy carried out its third bitcoin investment, according to CEO Michael Saylor.

MicroStrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now hold approximately 40,824 bitcoins.https://t.co/nwZcM9zAXZ

— Michael Saylor (@michael_saylor) December 4, 2020

According to a filing with the U.S. Securities and Exchange Commission (SEC), the company purchased 2,574 BTC for $50 million.

MicroStrategy became the first public company to invest in bitcoin as a reserve asset.

Saylor said that bitcoin investments are made as part of a strategy to shield excess capital from inflation eroding value.

After the latest purchase at an average price of $19,427, it holds a total of 40,824 BTC.

Across all three transactions, MicroStrategy paid an average of $11,635 per bitcoin. At current prices, the value of MicroStrategy’s bitcoin assets stands at about $775 million.

In August MicroStrategy bought 21,454 BTC (~$250 million at the rate at the time of the deal), in September the company acquired an additional 16,796 BTC for $175 million.

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