Mission accomplished! Business intelligence company MicroStrategy announced on Monday that it had acquired 13,005 Bitcoin at a purchase price of approximately $489 million in cash.
This little shopping trip cost the company an average price of roughly $37,617 per bitcoin, inclusive of fees and expenses.
The company’s CEO Michael Saylor revealed this latest purchase on Twitter, telling his 1.2 million followers in the process that his firm now has more than 100,000 bitcoins on its balance sheet.
MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin. As of 6/21/21 we #hodl ~105,085 bitcoins acquired for ~$2.741 billion at an average price of ~$26,080 per bitcoin. $MSTRhttps://t.co/gLfnOxZEZc
— Michael Saylor (@michael_saylor) June 21, 2021
As of June 21, the company is in possession of more than 105,085 BTC in its treasury.
According to the official announcement, these were bought for somewhere around $2.741 billion. Using the purchasing average, the company says that it purchased all the BTC at a price somewhere in the range of $26,080 per bitcoin, inclusive of fees and expenses.
The firm’s newly formed subsidiary, MacroStrategy, holds about 92,079 bitcoins of the total hoard.
CEO Michael Saylor has made Bitcoin acquisition a second mandate for his 32-year-old company, after its primary business of developing software. This latest purchase follows the firm raising $500 million from the sale of debt to fund more BTC buying.
Shares of the Nasdaq listed MicroStrategy are getting pounded today, what with their fate now largely tied to the price of Bitcoin, which itself has fallen after China intensified its crackdown on crypto.
The company shares are currently down more than 10%.
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