The Nasdaq-listed mobile-device software company Phunware announced an additional purchase of 398 BTC for about $23.8 million at an average price of $59,917.
According to the press release, as of November 22 the company owned about 529 BTC (they spent about $31.8 million, based on an average purchase price of about $60,191).
Phunware is known for developing an app to support Donald Trump’s 2020 presidential campaign. According to Fortune, it allowed tracking the movements of his supporters and offered personal access to their social networks.
In early November the developer announced a purchase of 100 BTC for about $6.2 million at an average price of roughly $62,030. At that time Phunware said it owned 127 BTC worth $7.75 million.
In August 2020, MicroStrategy became the first publicly traded company to invest a portion of its own capital ($250 million) in bitcoin. Later the board of directors approved a policy of increasing investments in digital gold from cash reserves.
Following this, MicroStrategy’s CEO Michael Saylor said he was confident that other private firms would follow the example of the company. In the US, such investments were pursued by Square’s Jack Dorsey and Tesla’s Elon Musk.
In December 2020 the analytics-software provider issued convertible bonds worth $650 million to buy bitcoin.
In February 2021 the company issued debt securities 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. Later the company bought 229 BTC for $10 million.
In June the organization invested a further $489 million in the primary cryptocurrency, buying 13,005 BTC; in August — another $177 million; in September acquired another 5,050 BTC.
Saylor described bitcoin as an asset he never parts with.
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