MicroStrategy still hungry for BTC
The bitcoin (BTC) buying frenzy by US company MicroStrategy continues. It just purchased an additional 3,907 BTC, for the sum of $ 177.5 million and at an average price of $ 45,294 per BTC. All information relating to this new purchase is available on this Securities and Exchange Commission document.
This significant new purchase brings MicroStrategy’s total bitcoin reserve to 108,999 BTC, or nearly $ 5.25 billion at the time of writing. To accumulate this impressive amount of BTC, the firm spent nearly $ 2.9 billion, with an average price of around $ 26,600 per BTC.
Today considered one of the biggest whales of Bitcoin, the company has in its possession 0.519% of the 21 million BTC that will be issued in the future. Of the 18.8 million BTC currently in circulation, this rate climbs to 0.58%.
To fund this investment, MicroStrategy used the proceeds from a stock sale last June, through which it raised nearly $ 1 billion to fund its future BTC purchases.
MicroStrategy’s huge appetite for Bitcoin does not seem to be over. The company continues to build up and with CEO Michael Saylor being a staunch bitcoiner, MicroStrategy is expected to continue this momentum for a long time.
👉 To read on the same subject – MicroStrategy now pays its board of directors in Bitcoin (BTC)
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About the author: Clément Wardzala
Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.