MicroStrategy has recently purchased $82M worth of Bitcoin, which amounts to an additional 1,434 bitcoins at an average price of $57,477 per Bitcoin. Its holdings are valued at more than $5.9 billion.
MicroStrategy, a business analytics consultancy, has added 1,434 Bitcoin to its account after purchasing the cryptocurrency at an average price of $57,477.
MicroStrategy purchased 1,434 Bitcoin (BTC) for $82.4 million between Nov. 29 and Dec. 8, according to a Securities and Exchange Commission filing on Thursday, bringing its total holdings to 122,478 BTC. MicroStrategy’s holdings are now valued at more than $5.9 billion, indicating a gain of more than $2.2 billion.
MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin. As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin. $MSTRhttps://t.co/Xke8QhoYpy
— Michael Saylor⚡️ (@saylor) December 9, 2021
MicroStrategy has gone on to buy billions of dollars in Bitcoin in separate buys using the company’s cash on hand since its initial $250 million Bitcoin investment in August 2020, in addition to selling convertible senior notes in private offers to institutional investors.
Though there have been instances where the business intelligence organization has bought the drop, some of the purchases have been made in response to price spikes in early 2021 when the BTC price was over $50,000.
At the time of writing, the price of Bitcoin was $48,684, down more than 25% in the last 30 days. Since dropping below the $42,000s on Dec. 3, the cryptocurrency has been hovering around $50,000.