MicroStrategy Bought 1,434 BTC Worth $82.4 Million at $57.5K
The NASDAQ-listed tech giant, spearheaded by Michael Saylor, continues its BTC buying spree after another substantial purchase worth more than $80 million.
Michael Saylor, one of the most prominent bitcoin advocates, who is also the founder and CEO of MicroStrategy, announced the latest purchase earlier on December 9th.
The company has accumulated another 1,434 coins for approximately $82.4 million in cash at an average price of around $57,500 per bitcoin. This means that the purchase was made most likely last week since BTC’s price has been stuck below $50,000 ever since the Saturday crash.
This is the tech behemoth’s second bitcoin buy in the past few weeks. As reported by CryptoPotato in late November, the firm then spent $414 million to swipe just over 7,000 coins.
Consequently, the company’s total stash is now 122,478 bitcoins, which were acquired for $3.66 billion at an average price of just under $30,000.
Given bitcoin’s price as of writing these lines – inches away from $50,000 – this means that MicroStrategy’s entire BTC portfolio is now worth over $6 billion.
MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin. As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin. $MSTRhttps://t.co/Xke8QhoYpy
— Michael Saylor⚡️ (@saylor) December 9, 2021
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