On March 12, the Nasdaq-listed MicroStrategy purchased 262 BTC for about $15 million. The analytics-software provider’s holdings of the digital asset reached 91,326 BTC.
MicroStrategy has purchased an additional ~262 bitcoins for ~$15.0 million in cash at an average price of ~$57,146 per #bitcoin. As of 3/12/2021, we #hodl ~91,326 bitcoins acquired for ~$2.211 billion at an average price of ~$24,214 per bitcoin. $MSTRhttps://t.co/QIQP30rv2q
— Michael Saylor (@michael_saylor) March 12, 2021
The average purchase price was $57,146 per Bitcoin, including fees and other costs.
The company’s total investment in digital gold topped more than $2.2 billion. As of writing, the value of the assets had risen to more than $5.1 billion (per CoinGecko).
In August 2020, MicroStrategy became the first publicly traded company to convert a portion of its own equity worth $250 million into the leading cryptocurrency.
In September, the board of directors of the firm approved a policy to ramp up investments in Bitcoin using cash reserves, and MicroStrategy continued purchasing the digital asset.
At the time, MicroStrategy CEO Michael Saylor expressed confidence that the company’s example would be followed by other private firms. In the United States, such investments were pursued by Jack Dorsey’s Square and Elon Musk’s Tesla.
Also, following MicroStrategy, the first publicly traded companies in their countries converted part of their capital into Bitcoin Mode (UK), SynBiotic SE (Germany) and Meitu (China).
In December, MicroStrategy attracted debt financing for the purchase of cryptocurrency. The firm issued convertible bonds worth $650 million.
In February, MicroStrategy conducted a new issuance of debt securities worth more than $1 billion and again invested the raised funds in Bitcoin.
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