Tag - MicroStrategy

MicroStrategy buys another 328 BTC

Michael Saylor’s firm made a new purchase of BTC for USD 15 million.

MicroStrategy continues to accumulate BTC. The firm led by Michael Saylor made this Monday a new bitcoin purchase worth USD 15 million equivalent to 328 BTC. In this way, the company brings the total accumulated bitcoin to 90,859 BTC.

This new investment by the business intelligence company comes less than a week after the purchase of 19,452 BTC worth nearly USD 1.026 million, a significantly larger sum than the one made at the beginning of March.

The company’s CEO, Michael Saylor, announced the news on his Twitter account.

Five days ago, the CEO explained that his company “remains focused on two corporate strategies: growing the business analytics software business, and acquiring and accumulating bitcoin”. This new investment confirms the path MicroStrategy is taking.

Regarding the latest purchase, made at an average price of USD 45,710 per BTC, the company officially started its “belief that bitcoin, as the world’s most widely adopted cryptocurrency, can serve as a reliable store of value.”

To date, MicroStrategy has accumulated 90,859 BTC with an average purchase price of USD 24,063. That amount of BTC, today is worth around USD 4.38 billion. Considering that MicroStrategy invested approximately USD 2.186 billion, the company already has a profit of USD 2 billion.