MicroStrategy purchased a further 5,050 Bitcoin, taking its total holdings to 114,042 BTC
MicroStrategy CEO Michael Saylor announced that the company purchased an additional 5,050 BTC for about $242.9 million in cash in the third quarter. So, the firm’s total amount of Bitcoin purchases during the third quarter of 2021 currently stands at $419 million, equivalent to 114,042 BTC.
MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7
— Michael Saylor⚡️ (@michael_saylor) September 13, 2021
MicroStrategy has added another nearly $243 million worth of Bitcoin
According to a recent regulatory filing, the firm spent $3.16 billion on this entire stash, which has a current value of $5.1 billion, a 42% gain. As Saylor said, MicroStrategy purchased the coins at an average price of $48,099/BTC.
This action by Saylor today also serves as a fulfillment of Michael Saylor’s pledge, during the firm’s Q2 earnings call, to purchase more BTC, and comes just weeks after MicroStrategy purchased an additional 3,907 coins for about $177 million in cash.
In the third quarter of 2021, MicroStrategy purchased a total of 8,957 BTC for about $419.9 million. The average price is $46,875. To date, the company holds approximately 114,042 BTC, purchased with an aggregate purchase price of $3.16 billion and an average price of $27,713 per coin, including fees and expenses. The company owns more BTC than any other public company in the world.
Even so, MicroStrategy is not involved in any Bitcoin lending or investing in any other cryptocurrencies. The company’s consistent strategy is to buy Bitcoin with cash, store it for itself, and hoard it indefinitely.
Saylor did not comment on the buy but tweeted, “Slow and steady wins the race.”
BTC/USD 4-hour chart | Source: TradingView
However, before this move of the company, Bitcoin price does not seem to have changed too positively. At the time of writing, the price is hovering at $44,710, still recording a 13% drop over the past seven days.
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