MicroStrategy now holds a total of $4.4 billion Bitcoin, although it only paid about half that for the stash.
Cloud service provider MicroStrategy has purchased a further $10 million in . This is the latest in a string of Bitcoin buys, as the firm continues to add to its $4.4 billion warchest holds .
MicroStrategy CEO Michael Saylor announced today that the firm has bought 205 Bitcoin for around $10 million. It paid an average price of $48,888 per coin.
MicroStrategy has purchased an additional ~205 bitcoins for ~$10.0 million in cash at an average price of ~$48,888 per #bitcoin. As of 3/5/2021, we #hodl ~91,064 bitcoins acquired for ~$2.196 billion at an average price of ~$24,119 per bitcoin. $MSTRhttps://t.co/a0BRd4Wy3r
— Michael Saylor (@michael_saylor) March 5, 2021
The firm, which bought $1 billion in Bitcoin last month, now has a total of 91,064 Bitcoin. It has paid a total of $2.19 billion for this stash.
As Decrypt reported on February 25, the firm announced that it had purchased 19,452 Bitcoin, worth $1.026 billion at the time, at an average price of $52,765 per BTC. It did so by offering even more convertible notes, this time at 0% interest.
You can also read the report of the recent bitcoin purchase by MicroStrategy here.
At the press time, Bitcoin is trading at $48,404 as per CoinMarketCap. The 24h high and low for BTC is $46,542 and $50,346 respectively. Also, the market dominance of BTC is 60.7% and that of ETH is 11.7%.
MicroStrategy plans to continue investing in Bitcoin and growing its holds, according to a recent statement.
“We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase additional bitcoin,” said MicroStrategy CEO Michael Saylor.