Microstrategy Buys More Bitcoin, Now Holding BTC Worth Over $780 Million in Treasury
Microstrategy Buys More Bitcoin, Now Holding BTC Worth Over $780 Million in Treasury
Nasdaq-listed billion-dollar company Microstrategy has made its third large bitcoin purchase. The company now holds about 40,824 bitcoins, worth over $780 million at the current price.
Microstrategy’s Third Bitcoin Buy
Microstrategy Inc. (NASDAQ: MSTR) has bought more bitcoins. CEO Michael Saylor tweeted Friday:
Microstrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now hold approximately 40,824 bitcoins.
Microstrategy also informed the U.S. Securities and Exchange Commission (SEC) on Friday of its new bitcoin purchase. According to its filing with the regulator, the company declared that it “holds approximately 40,824 bitcoins that were acquired at an aggregate purchase price of $475.0 million, inclusive of fees and expenses.”
Bitcoin is currently trading at about $19,153, meaning the BTC held in Microstrategy’s treasury is worth over $780 million.
This is the third big bitcoin purchase from Microstrategy. The first batch the company bought was in August for 21,454 bitcoins at an aggregate purchase price of $250 million. In September, the company purchased 16,796 additional bitcoins at an aggregate purchase price of $175 million. The purchases were facilitated by Coinbase.
Since his first purchase, Saylor has been an avid supporter of bitcoin, appearing on many interviews and podcasts explaining how bitcoin is the best store of value — many times better than gold. In October, Saylor revealed: “I personally hodl 17,732 BTC which I bought at $9,882 each on average.”
What do you think about Microstrategy buying more bitcoin? Let us know in the comments section below.
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