MicroStrategy buys an additional 7,002 BTC

The analytics software provider MicroStrategy has bought an additional 7,002 BTC for about $414.4 million, according to chief executive Michael Saylor.

MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX

— Michael Saylor⚡️ (@saylor) November 29, 2021

The average purchase price was about $59,187. As of November 29, the software provider owns 121,044 BTC — having spent about $3.57 billion (average cost per bitcoin $29,534).

In August 2020, MicroStrategy became the first public company to invest a portion of its own capital ($250 million) in bitcoin. Later the board of directors approved a policy for increasing investments in digital gold using cash reserves.

After that, MicroStrategy CEO Michael Saylor expressed confidence that other private firms would follow the company’s example. In the United States, such investments were taken up by Square, Jack Dorsey7s company and Tesla, Elon Musk’s company.

In December 2020, the analytics software provider issued convertible bonds worth $650 million to purchase bitcoin.

In February the company issued debt securities worth more than $1 billion and again invested the raised funds in cryptocurrency.

In March, MicroStrategy purchased 328 BTC, about 205 BTC and 262 BTC. The firm invested $15 million in digital gold in April andMay. Later the company bought 229 BTC for $10 million.

In June, the organization invested another $489 million in the primary cryptocurrency, buying 13 005 BTC; in August — a further $177 million, in September it acquired another 5,050 BTC.

Phunware, a Nasdaq-listed developer of mobile enterprise software, followed MicroStrategy’s example. In November the company announced an additional purchase of 398 BTC for about $23.8 million.

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