{"id":14290,"date":"2021-11-29T17:42:53","date_gmt":"2021-11-29T16:42:53","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=14290"},"modified":"2021-11-29T17:43:02","modified_gmt":"2021-11-29T16:43:02","slug":"microstrategy-purchase-7002-bitcoin-btc","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/microstrategy-purchase-7002-bitcoin-btc\/","title":{"rendered":"MicroStrategy purchases 7,002 Bitcoin (BTC) at $59,187 per coin"},"content":{"rendered":"\n
MircoStrategy has purchased an additional 7,002 Bitcoin (BTC) valued at about $414.4 million at an average price of $59,187 per coin<\/h5>\n\n\n\n
\"MicroStrategy
MicroStrategy purchases 7,002 Bitcoin (BTC) at $59,187 per coin<\/figcaption><\/figure>\n\n\n\n

MircoStrategy has purchased additional 7,002 BTC <\/h2>\n\n\n\n

MicroStrategy's CEO, Michael Saylor, stated\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> Monday via a Twitter post and a business filing that the company has purchased an additional 7,002 Bitcoin (BTC<\/use><\/svg><\/span><\/a>) valued at about $414.4 million on an average price of $59,187 per coin. MicroStrategy raised $414.4 million in cash by selling 571,001 shares of company stock for $732.16 each between Oct. 1 and Nov. 29.<\/p>\n\n\n\n

MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin<\/use><\/svg><\/span><\/a>. As of 11\/29\/21 we #hodl<\/use><\/svg><\/span><\/a> ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTR<\/use><\/svg><\/span><\/a>https:\/\/t.co\/OA8VWG1bZX<\/use><\/svg><\/span><\/a>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) November 29, 2021<\/use><\/svg><\/span><\/a><\/p><\/blockquote>\n\n\n\n

The corporation now holds 121,044 BTC worth up to $3.57 billion as of Monday. It was purchased at an average cost of $29,534 per coin, which included capital appreciation from prior coins.<\/p>\n\n\n\n

MircoStrategy adopt Bitcoin<\/h2>\n\n\n\n

MicroStrategy announced in August 2020 that it would adopt Bitcoin<\/use><\/svg><\/span><\/a> as its treasury reserve asset, claiming the digital currency as a “dependable store of value” and an appealing investment with higher long-term return potentials than cash. <\/p>\n\n\n\n

Furthermore, the firm drew attention to the enormous stimulus being generated by governments to tackle COVID-19 as a potential catalyst for inflation and consequent devaluation of fiat currencies. Since then, MicroStrategy has virtually always purchased Bitcoin <\/use><\/svg><\/span><\/a>every quarter.<\/p>\n\n\n\n

Ordinary investors typically experience losses when the price of Bitcoin falls and profits when the price rises. However, this is not always the case with MicroStrategy. <\/p>\n\n\n\n

Phong Le, president and chief financial officer of MicroStrategy, stated<\/use><\/svg><\/span><\/a> in the company's results conference transcript published last month that the company's Bitcoin holdings are classified as “indefinite-lived intangible assets under applicable accounting rules.” <\/p>\n\n\n\n

This means that if the fair value, or market value, of Bitcoin<\/a>, falls below its book value at any point after its acquisition, the business will have to record impairment costs. These impairment charges can then be legally used to offset the company's corporate income tax liability.<\/p>\n","protected":false},"excerpt":{"rendered":"

MircoStrategy has purchased an additional 7,002 Bitcoin (BTC) valued at about $414.4 million at an average price of $59,187 per coin MircoStrategy has purchased additional 7,002 BTC MicroStrategy’s CEO, Michael Saylor, stated Monday via a Twitter post and a business filing that the company has purchased an additional 7,002 Bitcoin (BTC) valued at about $414.4 […]<\/p>\n","protected":false},"author":29,"featured_media":14291,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5371,5560,5601],"class_list":["post-14290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-2","tag-covid-19-2","tag-mircostrategy"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Data-analytics-company-MicroStrategy-purchases-7002-Bitcoin-BTC-at-59187-per-coin.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=14290"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14291"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=14290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=14290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=14290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}