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MicroStategy is one of the first publicly-listed companies to invest in Bitcoin. The business intelligence firm just added more than 5,000 BTCs staying true to its previous announcement that it will continue to add to its crypto holdings as part of its digital asset strategy.
MicroStrategy revealed that it has increased its BTC stash once more in an announcement on Monday. The company purchased another 5,050 BTC shelling out around $242.9 million for the acquisition.
The company paid an average price of $48.099 per coin for the purchase, according to CEO Michael Saylor, who confirmed the transaction via a Twitter post. He added that with the latest addition, the company now owns approximately 114,042 Bitcoins.
“MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin,” Saylor tweeted. “As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin.”
In August 2021, the Tysons, Virginia-based company announced that it purchased approximately 3,907 BTC between July 1 and August 23. This was factored in its recent Form 8-K filing with the United States Securities and Exchange Commission where it reported that it purchased a total of 8,957 bitcoins for approximately $419.9 million in cash for the period between July 1, 2021, and September 12, 2021.
The company has been continuously buying Bitcoin despite the crypto’s highly volatile price. MicroStategy said that it plans to continue buying despite reporting an impairment loss of $689.6 million on BTC holdings in the second quarter this year.
“We continue to be pleased by the results of the implementation of our digital asset strategy,” Saylor said in July. “Our latest capital raise allowed us to expand our digital holdings, which now exceed 105,000 bitcoins. Going forward, we intend to continue to deploy additional capital into our digital asset strategy.”
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