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MicroStrategy Buys 328 More Bitcoins for $15M in Cash

  • Michael Saylor tweeted that MicroStrategy bought more Bitcoin.
  • MicroStrategy just brought an additional 19,452 Bitcoin at the price of $1.026 billion.
  • The firm now holds a total of 90,531 Bitcoins.

MicroStrategy CEO and Founder Michael Saylor once again took to Twitter to announce their latest Bitcoin purchase. Saylor stated that the business intelligence firm just bought an additional 328 Bitcoin in cash at $15 million in total.

As of today, the firm holds a total of 90,859 bitcoins. For this collection so far, the company has spent a total of $2.186 billion. This brings the price of each of their bitcoin at an average of $24,063.

This is a big slash on the average price in the bitcoins they hold. As of their last purchase made just 5 days ago, the average of each BTC they held stood at $52,765.

MircoStrategy has been on a massive BTC buy rampage. The firm believes that 2021 will be a grand year for Bitcoin and are going all in with the digital asset.

The company has used many strategies in loading up on Bitcoin over the last few weeks. One of their most notable strategies was buying 600 million worth of bitcoins and selling them as convertible senior unsecured notes. These notes will mature on Feb 15, 2027.

Another interesting decision MicroStrategy took was about a week ago. The firm decided to buy $2,000 worth of BTC per second. Now, with the latest purchase, it seems the firm does not plan to hold back at all.

MicroStrategy’s Bitcoin buying spree kicked off in December 2020 with an initial $650 million BTC purchase.

The dedication by this company alone has contributed greatly to Bitcoin’s price value. At the moment, the price of Bitcoin stands at $48,055. While some expect Bitcoin to rally and set a new ATH, others are beginning to wonder if the altseason has arrived.

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Colette Larsen

An eager wordsmith who conveys her thoughts and fascinations through words and storytelling. Besides lurking on new and emerging technology forums, she’s always updated when it comes to blockchain.

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