MicroStrategy Invests $10 Million in Bitcoin

The Nasdaq-listed company MicroStrategy has purchased an additional 229 BTC for $10 million.

MicroStrategy has purchased an additional 229 bitcoins for $10.0 million in cash at an average price of ~$43,663 per #bitcoin. As of 5/18/2021, we #hodl ~92,079 bitcoins acquired for ~$2.251 billion at an average price of ~24,450 per bitcoin. $MSTRhttps://t.co/fU6LN4WbKI

— Michael Saylor (@michael_saylor) May 18, 2021

CEO Michael Saylor, the CEO of the analytics software provider, said the average purchase price was around $43,663.

As of May 18, 2021, MicroStrategy owned 92,079 BTC worth more than $4 billion. The average purchase price was $24,450.

According to Bitcoin Treasuries, the share of the company’s reserves held in the digital asset accounts for 85% of its market capitalization.

In August 2020, MicroStrategy invested $250 million in Bitcoin. Later, the company’s board approved a policy to ramp up investments in the leading cryptocurrency using cash reserves.

In December, the company placed convertible bonds worth $650 million to fund further purchases of digital gold.

In February 2021, the software provider issued debt instruments worth more than $1 billion and again invested the raised funds in cryptocurrency.

In March MicroStrategy acquired 328 BTC, about 205 BTC and 262 BTC. The firm invested $15 million in digital gold in April and May.

Earlier, the MicroStrategy board approved a policy for paying bonuses in Bitcoin.

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