- Michael Saylor tweets 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.
Michael Saylor, founder and CEO of MicroStrategy, just announced on Twitter saying that the company has bought an additional 19,452 Bitcoins. This purchase cost them $1.026 billion in cas. That makes it about an average price of $52,765 in cash per Bitcoin.
MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTRhttps://t.co/FbsRYhXEhn
— Michael Saylor (@michael_saylor) February 24, 2021
The business intelligence firm now holds a total of 90,531 Bitcoins. The majority of this collection was collected over the last few weeks. The total amount it cost the firm to own all this Bitcoin amounts to $2.171 billion.
Likewise, the company bought $650 million worth of Bitcoin in December 2020. From then on, there was no stopping them. MircoStrategy believes 2021 will be an abundant year for Bitcoin. Hence, since then, they went on a Bitcoin buying spree.
Furthermore, three days ago, the company announced its plan to buy $2,000 worth of Bitcoins per second. Their strategy is to hold their Bitcoin assets, hoping that their BTC purchases will drive the price to a new ATH.
Moreover, a week ago the company announced that it will be buying 600 million worth of Bitcoin. They offered this amount in the form of convertible senior unsecured notes. These notes will mature on Feb 15, 2027.
Consequently, the proceeds made from the selling of the notes, they promised, would go into buying more Bitcoin. It seems they have now fulfilled that promise.
Astonishingly, just three weeks ago, the company owned a total of 71,079 Bitcoin. This was right after a $10 million purchase. Now their BTC total stands at 90,531.
Present, the price of Bitcoin stands at $49,617. It is expected to set a new ATH as more and more companies have begun to invest in the digital asset.