• MicroStrategy, led by Michael Saylor, acquired an additional 11.9K bitcoins for $786M
• The company now holds a total of 226,331 bitcoins worth just shy of $15 billion
• The acquisition further solidifies MicroStrategy’s position as the largest corporate holder of bitcoin
MicroStrategy, led by CEO Michael Saylor, has purchased another 11,890 bitcoins for about $786 million in cash according to a press release on Thursday morning.
Company Now Holds Over 226,000 Bitcoins
The company now holds approximately 226,331 bitcoins acquired for $4.96 billion at an average price of $21,925 per bitcoin.
“The company’s bitcoin acquisition strategy is aimed at making MicroStrategy the strongest, most secure version of a bitcoin spot exchange traded fund,” said Saylor.
Bitcoin Price Surges
Bitcoin’s price has surged recently, with the digital asset trading around $23,800 at time of writing.
The flagship cryptocurrency is still down about 70% from its all-time high of nearly $69,000 hit last November.
MicroStrategy’s Massive Bitcoin Hoard
With its latest bitcoin acquisition, MicroStrategy now holds approximately 114,042 bitcoins that were purchased at an average price of $30,664 per token.
MicroStrategy, the largest independent publicly-traded business intelligence company, has been aggressively buying bitcoin since August 2020.
Saylor views bitcoin as a long-term store of value and says the asset will provide a hedge against inflation.
Disclosure
MicroStrategy is a publicly traded company headquartered in Virginia. It provides business intelligence, mobile software, and cloud-based services.
The company has purchased over $4 billion in bitcoin to date as part of its corporate strategy. Bitcoin is a decentralized digital currency that uses blockchain technology.
