MicroStrategy increases its Bitcoin holding with an additional $240M purchase

MicroStrategy, a business intelligence firm and corporate Bitcoin (BTC) whale, has boosted its BTC holding as revealed on Monday, its Q3 Bitcoin spend now stands at almost $420 million following this latest BTC acquisition.

MicroStrategy CEO Michael Saylor announced the purchase of 5,050 bitcoins for $242.9 million, or $48,099 per coin on average.

MicroStrategy stated in a Form 8-K filing with the US Securities and Exchange Commission on Monday that it added 8,957 BTC to its corporate Bitcoin treasury in Q3 2021.

MicroStrategy purchased 3,907 bitcoins for $177 million between July 1 and August 23, as previously reported by Cointelegraph.

Following the latest Bitcoin purchase, the business now owns about 114,042 BTC for a total purchase price of $3.16 billion.

MicroStrategy's Bitcoin cost, including fees and other charges, is around $27,713 per BTC, according to the Form 8-K form.