MicroStrategy Buys an Additional 5,050 Bitcoins for $242.9 Million in Cash

Eva Fox by Eva Fox September 14, 2021

MicroStrategy Buys an Additional 5,050 Bitcoins for $242.9 Million in Cash

Public company MicroStrategy has announced the purchase of 5,050 Bitcoins for about $242.9 million. The deal was executed at an average cryptocurrency price of $48,099. The software maker now holds ~114,042 BTC at $3.16 billion in total.

Business intelligence company MicroStrategy acquired an additional 5,050 Bitcoins, bringing its total assets to 114,042 BTC, according to a report filed on September 13. The firm spent $3.16 billion on this entire holding. Its current value is approximately $5.1 billion.

After making several large purchases late last year and early this year, the firm continued to buy smaller quantities over time. The current purchase of 5,050 Bitcoins cost the firm $242.9 million, with an average price of $48,099. This also means that the firm bought Bitcoin before the September 7 price drop.

MicroStrategy is the largest Bitcoin holder among public companies. In second place in this indicator is Tesla, which owns 43,200 BTC. The third line is occupied by Square with 8,000 BTC.

The head of the company, Michael Sailor, is an active supporter of Bitcoin, which is reflected in the company's course on the gradual accumulation of its holdings. He said that Bitcoin will become the main store of value for the 21st century, and called the tightening regulation of mining and crypto trading in China a trillion-dollar mistake.

© 2021, Eva Fox | Tesmanian. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

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