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MicroStrategy purchases 1,914 Bitcoin, now holds almost $6B in crypto

MicroStrategy purchases 1,914 Bitcoin, now holds almost $6B in crypto

Business intelligence firm MicroStrategy has ded $94 million worth of Bitcoin (BTC) to its holdings after purchasing the crypto asset at an average price of $49,229.

According to a Thursday filing with the U.S. Securities and Exchange Commission, MicroStrategy purchased 1,914 BTC between Dec. 9 and Dec. 29 for $94.2 million, making its total holdings 124,391 BTC. With the recent buy, the company’s holdings are valued at roughly $5.9 billion, representing more than $2.1 billion in gains.

MicroStrategy has purchased an ditional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per #bitcoin. As of 12/29/21 we #hodl ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin. $MSTRhttps://t.co/tNxDwaT8VD

— Michael Saylor⚡️ (@saylor) December 30, 2021

Since making its initial $250-million Bitcoin investment in August 2020, MicroStrategy has gone on to purchase more than $3.7 billion in BTC in separate buys using the company’s cash on hand in dition to sales of convertible senior notes in private offerings to institutional buyers. Though there are cases in which the business intelligence firm bought the dip, some buys followed the price surges in early 2021 when the BTC price was more than $50,000.

Related: Insiders sold MicroStrategy stock after Bitcoin’s bull run

The firm’s most recent BTC purchase follows the price of the crypto asset dipping under $46,000 on Dec. 29 as it continues to show volatility prior to the new year. According to data from Cointelegraph Markets Pro, the price of Bitcoin is $47,226 at the time of publication, having fallen more than 7% in the last 7 days.

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ARTICLE: MicroStrategy purchases 1,914 Bitcoin, now holds almost $6B in crypto 
PUBLISHED: 2021-12-30 14:52:02 
SOURCE: https://cointelegraph.com/news/microstrategy-purchases-1-914-bitcoin-now-holds-almost-6b-in-crypto
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