May 15, 2021

MicroStrategy purchases another $1 billion worth of Bitcoin, now owns 90,000 BTC

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Business intelligence firm MicroStrategy increased its Bitcoin (BTC) holdings by 27% on Wednesday after purchasing an additional 19,452 coins, taking its total haul to 90,531 BTC.

Announced on the company’s website on Wednesday, the coins were reportedly purchased for approximately $52,765 per coin, equating to an outlay of just over $1 billion.

MicroStrategy CEO Michael Saylor said the firm’s focus was now twofold: grow its analytics software enterprise, and buy more Bitcoin. 

Saylor said, “The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin.”

In the six months since MicroStrategy announced its first $250 million investment in Bitcoin, the company has gone on to spend in excess of $4 billion on the digital asset. Saylor said there was no plan to stop buying BTC any time soon.

“The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value. We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time,Title: MicroStrategy purchases another $1 billion worth of Bitcoin, now owns 90,000 BTC
Sourced From: cointelegraph.com/news/microstrategy-purchases-another-1-billion-worth-of-bitcoin-now-owns-90-000-btc
Published Date: Wed, 24 Feb 2021 13:50:46 +0000