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- MicroStrategy has made another purchase of 7,002 Bitcoins
- The business intelligence firm is holding more than 121,044 BTC, purchased worth $3.6 billion
- The latest purchase by the business intelligence firm has been made for approximately $414 million
MicroStrategy is one of the early institutions that first stepped in the Bitcoin market. Amid the global COVID-19 pandemic the firm has invested in BTC at several price points. However, since the beginning of this year, BTC price has witnessed tremendous gains. After achieving its all-time high level near the price of $69k, the coin lost more than 16% of its value. Following the price actions, Michael Saylor, the CEO of MicroStrategy has announced that it has acquired more of the coins to increase its holdings. Notably, in the current scenario, the business intelligence firm is holding more than 121,044, purchased BTC worth $3.6 billion.
MicroStrategy revealed another BTC buy
The CEO of MicroStrategy, one of the most avid and vocal proponents of BTC has recently announced that it has acquired another 7k Bitcoins. Notably, the latest purchase by the business intelligence firm has been made for approximately $414 million. Following the latest whopping acquisition of the flagship cryptocurrency, it seems the firm does not seem to waste any time and resources when it comes to accumulating more BTC.
According to the announcement, the firm has purchased an exact amount of 7,002 BTC for about $414.4 million. It is also noteworthy that the purchase was made entirely in cash.
MicroStrategy’s investment is just shy of $7bn
The average price of the acquisition made by MicroStrategy was approximately about $59,187. Indeed, at press time Bitcoin price has managed to settle near the price level of $57,000. Notably, the levels are an increase of about 93% from the average price level of nearly $29,500, at which the business intelligence firm has made all of its purchases. Hence, following the price points at which the Saylor has made all of their acquisition to amass more than 121,044 Bitcoins, it seems that the total investment is currently just shy of $7 billion.
Michael Saylor’s firm has the largest BTC stash
According to data from CoinGecko, MicroStrategy Incorporation is one of the leading firms in terms of Bitcoin holdings. Followed by Tesla, the firm has the largest BTC stash, with more than 0.543% of the total supply of the flagship crypto asset. According to the data, it is observed that the firm has invested about $3,160,000,000, which is worth $6,518,091,594 at press time. Indeed, Saylor has made the BTC holdings a second mandate for his 32 years old firm.
