Microstrategy Buys Additional 3,907 Bitcoins For $177 Million

By Author: Greg C. Ryan
Total Articles: 20
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According to a Form 8-K filing with the United States Securities and Exchange Commission published on Tuesday, 24th August 2021, Business intelligence company, MicroStrategy, declared about purchasing around 3,907 Bitcoins (BTC) using $177.0 million in cash in between July 1, 2021 and August 23, 2021 which is also the third quarter of the Company’s fiscal year to date.

According to Tweet sent out by MicroStrategy’s co-founder and CEO, Michael Saylor the bitcoins was bought with an average price of approximately $45,294 per bitcoin inclusive of fees and expenses. The Company holds around 108,992 bitcoins as of August 23, 2021 which was acquired at an aggregate purchase price of $2.918 billion and an average purchase price of around $26,769 per bitcoin, inclusive of fees and expenses. In the crypto industry Saylor is one of the most vocal bitcoin bulls.

This purchase made by MicroStrategy was not the first time. In June, MicroStrategy Inc. spent roughly $489 million to purchase an additional 13,005 bitcoin. With Bitcoin trading above $49,000, the company’s Bitcoin holdings are worth over $5.3 billion.

According ...
... to the data given by Buy Bitcoin Worldwide, MicroStrategy, although owning less than 1% of total bitcoins, has the highest amount of bitcoin holdings for a public company. As per Michael Saylor, he has influenced Tesla to invest $1.5 billion in the digital currency. Tesla holding “close” to 42,000 bitcoins according to a tweet sent in late July by Tesla CEO Elon Musk, is in second place.

Back in August 2020 MicroStrategy announced its first Bitcoin purchase and has consistently added to its BTC position. Over the last seven days the world's largest cryptocurrency bitcoin is showing up nearly 5% and topped $50,000 for the first time since mid-May earlier this week.

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