Microstrategy Buys $1 Billion More Bitcoin — Company Now Holds Over 90,000 BTC

Microstrategy Buys $1 Billion More Bitcoin — Company Now Holds Over 90,000 BTC

Microstrategy has purchased an additional $1.026 billion worth of bitcoin, raising the total number of bitcoins it has accumulated to about 90,531. Its CEO explained that his company remains focused on its two corporate strategies of growing its enterprise analytics software business and “acquiring and holding bitcoin.” More Than $2 Billion Worth of Bitcoin Now in Microstrategy’s Treasury Reserves

Microstrategy Inc. announced Wednesday that “it had purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, inclusive of fees and expenses.” The announcement continues: As of February 24, 2021, the company holds an aggregate of approximately 90,531 bitcoins, which were acquired at an aggregate purchase price of approximately $2.171 billion and an average purchase price of approximately $23,985 per bitcoin, inclusive of fees and expenses.

The company used the proceeds from its $1.05 billion convertible note offering which it completed last week to purchase the additional bitcoins.

The pro-bitcoin CEO Michael Saylor explained that his company “remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin.”

The amount of bitcoin the company holds reaffirms its “belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value,” Microstrategy explained.

What do you think about all the bitcoins Microstrategy has been buying? Let us know in the comments section below. Square Adds $170 Million More in Bitcoin to Balance Sheet — Company Now Holds 5% of Total Cash Reserves in BTC FINANCE | 6 hours ago Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets FINANCE | 4 days ago Tags in this story michael saylor, microstrategy, microstrategy billion bitcoin, microstrategy bitcoin, microstrategy btc, microstrategy crypto, microstrategy cryptocurrency

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