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BCH $533.28 (0.59%)
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Microstrategy Buys More Bitcoin Again — 205 BTC in Total

Microstrategy Buys More Bitcoin Again 205 BTC in Total
  • Microstrategy buys an additional 205 bitcoins to increase its holdings
  • The firm paid $10 million in cash with an average price of $48,888 per BTC
  • Microstrategy CEO says that the firm now holds a total of 91,064 bitcoins

Ever since their first bitcoin purchase back in 2020, Microstrategy has consistently been in the news. Now, the firm bought bitcoins again — 205 BTC for $10 million.

According to Michael Saylor, CEO of Microstrategy, the firm now holds a total of 91,064 bitcoins. This amount is worth almost $4.5 billion, at bitcoin’s price at the time of writing. According to Saylor, they bought the bitcoins at an average price of $24,119 per bitcoin.

Back in January, Saylor expressed his optimism for Bitcoin. Back then, he said that 2021 will be a good year for bitcoin. In a CNBC interview, he showed confidence in their bitcoin purchases at the time.

Now, that same confidence shows as the firm started to continuously buy bitcoins, even laying out plans to buy $2000 worth of bitcoins per second.

The Bitcoin market seems to be going more bullish this year as many institutions continue to show interest and buy.

MicroStrategy is currently the largest independent publicly-traded business intelligence company with the leading enterprise analytics platform.

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Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.