Crypto

MicroStrategy Bought $82 Million in Bitcoin and Now Owns 122,478 Coins

MicroStrategy Bought $82 Million in Bitcoin and Now Owns 122,478 Coins

MicroStrategy bought $82 million in Bitcoin and now owns 122,478 coins.

MicroStrategy’s shares are now worth more than $5.9 billion, a gain of more than $2.2 billion from its real investment in August 2020.

MicroStrategy, a business analytics consultancy, has included 1,434 Bitcoin to its bank account after purchasing the cryptocurrency at an average price of $57,477.

MicroStrategy purchased 1,434 Bitcoin (BTC) for $82.4 million between November 29 and December 8, according to a Securities and Exchange Commission (SEC) filing on Thursday, bringing its total holdings to 122,478 BTC. MicroStrategy’s holdings are now valued at more than $5.9 billion, indicating a gain of more than $2.2 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″

MicroStrategy has gone on to purchase billions of dollars in Bitcoin (BTC) in separate buys using the company’s cash on hand since its initial $250 million Bitcoin (BTC) investment in August 2020, in addition to selling convertible senior notes in private offers to institutional investors.

Though there have been instances where the business intelligence organization has bought the drip, some of the purchases have been made in response to price spikes in early 2021 when the Bitcoin (BTC) price was over $50,000.

Bitcoin’s price is $48,684 at the time of publication, down more than 25% in the last 30 days, according to statistics from Cointelegraph Markets Pro. Since dropping below the $42,000s on Dec. 3, the cryptocurrency has been hovering around $50,000.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.