MicroStrategy purchased an additional 3,907 BTC for about $177 million during the third quarter period
Business intelligence firm MicroStrategy purchased an additional $177 million worth of Bitcoin in the third quarter of the fiscal year. This time around, the company added 3,907 BTC to its holdings, bringing the total BTC in hand to nearly 109,000 BTC.
MicroStrategy splashes $177 million on Bitcoin, now holds almost 109,000 BTC
According to a Form 8-K filing with the United States Securities and Exchange Commission (SEC), Ii bought more Bitcoin with the proceeds generated from the $177.5 million sales of its class A common stock, which is part of its agreement with Jefferies Group that was initially announced on June 14th.
The business intelligence upped its Bitcoin holdings by 3,907 BTC between July 1 and Monday, August 23rd. The SEC filing also revealed that MicroStrategy spent an average of $45,294 to acquire the additional BTC.
The company currently holds 108,992 BTC that are cumulatively worth $2.918 billion. However, the buying and selling did not positively affect the Bitcoin price. It remains under pressure after reclaiming the $50,000 level for the first time since mid-May on August 23.
At the present time, BTC is changing hands at $48,618, recorded a 5% increase in the past seven days. With price trading above $49,000, the company’s Bitcoin holdings are worth over $5.3 billion.
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