More Bitcoin! Michael Saylor’s MicroStrategy just keeps buying BTC

189
SHARES
1.5k
VIEWS

Related articles



MicroStrategy’s Bitcoin shopping for spree exhibits no indicators of slowing after CEO Michael Saylor introduced the acquisition of one other 328 Bitcoin (BTC) on Monday. The acquisition, which was paid for in money, value the agency round $15 million and equated to a mean coin worth of $45,710 on the time of buy.

The funding takes MicroStrategy’s whole Bitcoin holdings to 90,859 cash — a haul price $4.3 billion primarily based on the present worth. The agency has primarily dollar-cost-averaged into Bitcoin over the course of the previous 5 months, leaving the typical worth of every of its Bitcoin purchases at $24,063 per coin. Saylor tweeted on Monday:

The agency first acquired Bitcoin in August 2020 when it made an preliminary $250 million outlay on 21,454 cash. MicroStrategy continued to purchase extra BTC at varied factors towards the top of 2020, ultimately accumulating over 70,000 cash by the flip of the 12 months.

In February, the enterprise intelligence agency introduced that it will raise an additional $900 million for additional Bitcoin purchases — a sum that ultimately exceeded $1 billion when an additional 19,452 coins were purchased last Wednesday.

MicroStrategy’s total outlay on Bitcoin stands at $2.18 billion, while current coin prices would value the firm’s holdings at $4.3 billion, meaning the firm would have made over $2 billion in five months were it to sell. However, there is little reason to suggest this will happen any time soon. Saylor previously said buying Bitcoin was one of the firm’s two corporate goals, along with growing its analytics software business.