A Nasdaq-listed business analytics software provider, MicroStrategy, has purchased an additional ~205 BTC for about $10 million, CEO Michael Saylor said.
MicroStrategy has purchased an additional ~205 bitcoins for ~$10.0 million in cash at an average price of ~$48,888 per #bitcoin. As of 3/5/2021, we #hodl ~91,064 bitcoins acquired for ~$2.196 billion at an average price of ~$24,119 per bitcoin. $MSTRhttps://t.co/a0BRd4Wy3r
— Michael Saylor (@michael_saylor) March 5, 2021
The average purchase price was around $48,888 per bitcoin.
With the latest addition, the company’s total holdings of the leading cryptocurrency reached 91,064 BTC (about $4.42 billion at the time of writing). MicroStrategy paid an average of about $24,119 per bitcoin, Saylor said.
The previous purchase of digital gold by the company was made earlier in the week, spending about $15 million on the acquisition of 328 BTC.
In August 2020, MicroStrategy became the first publicly traded company, which converted part of its cash reserves into bitcoin. The firm continued buying the leading cryptocurrency with its own funds, and in December it raised debt financing for this purpose through a $650 million convertible bond offering. The company invested in bitcoin.
In February, MicroStrategy conducted a new issue of debt, placing bonds of more than $1 billion, and again invested the raised funds in the leading cryptocurrency.
Financial micro-matters: what lies behind MicroStrategy’s big bet on pushing bitcoin higher
In early 2021, the company said it would continue to deploy free cash into bitcoin and will explore new opportunities to invest in digital gold.
Subscribe to Forklog’s channel on YouTube!