MicroStrategy purchases $15 million more of Bitcoin

Bitcoin Golden

The cache fills up! The publicly listed business intelligence firm MicroStrategy has purchased more Bitcoin according to a tweet from the company CEO Michael Slayer and a recent SEC filing.

Like before, the firm spent $15 million in cash.

As a result, it now holds 91,579 in the company’s reserve.

Of course, this is nothing new. Month after month, MicroStrategy continues to purchase BTC and add the cryptocurrency to its balance sheet. It revealed yet another Bitcoin buy when it disclosed to the Securities and Exchange Commission in a Form 8-K filing that it had purchased 253 bitcoins.

MicroStrategy Logo

The SEC filing notes:

“On April 5, 2021, MicroStrategy Incorporated announced that it had purchased approximately 253 bitcoins for $15 million in cash, at an average price of approximately $59,339 per bitcoin, inclusive of fees and expenses. As of April 5, 2021, the Company holds approximately 91,579 bitcoins that were acquired at an aggregate purchase price of $2.226 billion and an average purchase price of approximately $24,311 per bitcoin, inclusive of fees and expenses.”

Out of 21 million bitcoins, MicroStrategy now holds 0.436% of the entire supply today. The stash is worth 2.4 times the purchase value at $5.4 billion.

The Nasdaq listed firm still has 8,421 bitcoins to go to surpass 100,000 in BTC in its reserve. At current prices, it will have to spend another $496 million in order to jump over that number — which appears to be the goal.

All this makes MicroStrategy an entity with one of the largest stashes of Bitcoin to date. It counts only a few other organizations for company, alongside large Bitcoin funds like GBTC.

According to the web portal Bitcoin Treasuries, a vast number of companies now hold Bitcoin on their balance sheets. With this most recent purchase, the website shows 1,373,294 of the digital coins under the possession of companies and corporate entities.

These 1.3 million bitcoins represent 6.54% of the entire Bitcoin supply.

Impressive!


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