HomeNEWSMicroStrategy acquires an additional $94.2 million worth of Bitcoin

MicroStrategy acquires an additional $94.2 million worth of Bitcoin


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MicroStrategy, a leading data analytics platform, announced today that they have added more Bitcoin to their portfolio. The company stated that the acquisition of the additional 1,914 Bitcoins was this month between 9th to 29th.

Interestingly, these Bitcoins were bought in exchange for cash of approximately $94.2 million. These Bitcoins were bought at an average price of approximately $49,229 per coin. In an SEC filing, the platform said,

“As of December 29, 2021, the Company held approximately 124,391 bitcoins that were acquired at an aggregate purchase price of $3.75 billion and an average purchase price of approximately $30,159 per bitcoin, inclusive of fees and expenses.”

Interestingly, the company has gone ahead in increasing its investment in the crypto-market despite it being significantly down to last month’s high. Moreover, this purchase follows the Bitcoin purchase made in September. The analytics firm had then acquired 5,050 Bitcoins.

The Bitcoin Commitment

Michael Saylor – CEO of MicroStrategy – laid it clear that Bitcoin acquisition would be a mandate for the company. This would be second only to the firm’s work of developing business intelligence software.

The Founder of Microstrategy said, on tweeter post.

MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of $49,229 per #bitcoin. As of 12/29/21 we #hodl ~124,391 bitcoins acquired for $3.75 billion at an average price of ~$30,159 per bitcoin. $MSTR.”

A Twitter user @DWhitmanBTC said,

“Microstrategy Corp now owns over 12.5 trillion satoshis. You can get 1 million satoshis right now for under $500 You may want to secure your satoshis while you can. Just sayin”

Notably, the announcement of Bitcoin acquisition comes in at the time the market seems to be stagnant. At the press time, the cryptocurrency was trading at a price of $47,453.16 with a market dominance of 40.3 percent.

Priya is a freelance journalist at BinBits. She has an experience of over two years as a cryptocurrency and blockchain technology journalist. She is an avid reader and has a passion for Japanese culture and art.

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