MicroStrategy Grew Its Bitcoin Stash by $1 Billion
Business intelligence firm MicroStrategy announced that they increased its Bitcoin holdings. The firm purchased $1.026 billion worth of Bitcoin. Close to 19,452 Bitcoins were purchased at an average price of $52,765.
With the recent purchase, MicroStrategy holds approximately 90,500 Bitcoins. The total value of its investment is now worth $4.5 billion with current asset value. The average value per coin is $23,985.
Where it all started
MicroStrategy first invested in Bitcoin in August 2020. They invested $425 million on Bitcoin and the value of its investment climbed to over $0.5 billion by November 2020. The firm purchased another $650 million worth of Bitcoin in December 2020.
MicroStretegy Inc. (NASDAQ:MSTR) now holds 90,531 BTC which is worth $4,453,591,067 at today’s Bitcoin price. The CEO of MicroStrategy Michael Saylor is now a flagship advocate for Bitcoin as the firm started investing in Bitcoin and Cryptocurrencies. He describes Bitcoin as digital gold. He publically advised the CEO of Tesla – Elon Musk to convert Tesla’s balance sheet from fiat to Bitcoin. Two months later Elon Musk invested $1.5 billion into Bitcoin.
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