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MicroStrategy Now Holds 71,079 BTC After $10M Purchase

MicroStrategy Now Holds 71,079 BTC, After $10M Purchase Bitcoin News
  • MicroStrategy purchased an additional 295 bitcoins worth $10 million to its treasury.
  • In total, MicroStrategy holds over 70,000 BTC at its disposal.
  • Last week, MicroStrategy has already bought 314 BTC for the same value.

MicroStrategy has added 295 bitcoins to its funding, holding approximately 71,079 bitcoins at the moment. For $10 million, MicroStrategy CEO Michael Saylor announced that it had purchased additional BTC, following its 314 BTC purchase last week.

Approximately, the multi-billion dollar company now holds $1.145 billion worth of BTC at its disposal. Additionally, they have an average purchase price of approximately $16,109 per bitcoin, inclusive of fees and expenses.

MicroStrategy has already made significant BTC investments since last year. In detail, the company bought $650 million into Bitcoin at an average price of $21,925 per BTC in December 2020. This is a relatively low value in comparison to the current BTC price of $34,715.05.

Aside from this, the biggest publicly-traded business intelligence firm has previously bought $425 million worth of Bitcoin in August 2020 as part of their “new allocation strategy”.

Moreover, Saylor has shown optimism toward Bitcoin’s performance this 2021.

Read Also: Bitcoin (BTC) Price Analysis and Price Prediction 2021

An aspiring journalist who spills her ideas in cryptocurrency and blockchain-related matters. With her background in Communication and Journalism, she is more inclined to write about reality than fiction.