2021-09-13 16:41:48
MicroStrategy Buys 5,050 More Bitcoins, Now Holds $3.16B Worth in Total
The business-intelligence software company said it owned a total of 114,042 bitcoins as of Sept 12.By Tanzeel Akhtar
Sep 13, 2021 at 9:56 a.m.
Updated Sep 13, 2021 at 10:28 a.m.
MicroStrategy CEO Michael Saylor (Flickr)MicroStrategy said Monday it bought about additional 5,050 bitcoins. The business-intelligence software company now holds 114,042 bitcoins, which were acquired for a total of $3.16 billion and at an average price of $27,713 per bitcoin.
Nasdaq-listed MicroStrategy said it had purchased approximately 8,957 bitcoins for $419.9 million in cash during the third quarter between July 1 and Sept 12. In August, the company disclosed that it had bought 3,907 bitcoins at an average price of approximately $45,294 per coin.
CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company. Its other business is developing business-intelligence software.
MicroStrategy owns so much bitcoin that some investors use it as a proxy for investing in the cryptocurrency. Shares have sunk from a high of $1,273 per share in March to $616 on Monday morning.
UPDATE (Sept. 13, 13:26 UTC): Updated with information about MicroStrategy’s August purchase of bitcoin, and additional background in the third bullet point.
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