MicroStrategy, a business analytics company and the largest first public limited firm to retain Bitcoin, has increased its holdings of bitcoin reserves. Microstrategy’s Bitcoin Stockpile keeps growing. According to an announcement made by them on Twitter this Monday, the company has bought additional bitcoins. The CEO of Microstrategy, Saylor, wrote on Twitter: Microstrategy has purchased an additional 5,050 bitcoins for – 242.9 million dollars in cash at an average price of $48,099 per bitcoin. As of September 12th, 2021, we have 114,042 bitcoins worth $3.16 billion, with an average price of $27,713 per bitcoin.
MicroStrategy previously stated that it is committed to buying Bitcoins in large amounts and has no price target as it expands its holdings at different price points.
Saylor promised to buy more coins during the company’s Q2 results call, and this investment comes just a few weeks after MicroStrategy bought additional 3,907 coins for 176.9 million dollars in cash. During the last three weeks, MicroStrategy has actually paid around 48,000 dollars for each bitcoin.
On Monday, the organization also disclosed its bitcoin acquisition to the Securities and Exchange Commission in the United States. MicroStrategy “purchased roughly 8,957 bitcoins for about $419.9 million in cash, at an aggregate cost of nearly $46,875 per bitcoin, inclusive of costs and expenses” in the third quarter, according to the report.
A total of 8,957 BTC comprises the 3,907 BTC acquisition disclosed in August.
By far, the corporation owns about 114,042 bitcoins, which were purchased for a total of 3.16 billion dollars and an average selling price of $27,713 per bitcoin, inclusive of fees and costs. The company holds more Bitcoins than any other publicly traded corporation in the world.
MicroStrategy purchased after selling its class A common shares to Jeffries, an ATM service. MicroStrategy raised around 400 million dollars in the third quarter by selling 555,179 shares of Jeffries at an estimated gross price per share of 727.64 dollars.
MicroStrategy has established itself as a Bitcoin pioneer by campaigning for and assisting companies such as Tesla in converting their bank balances from dollars to Bitcoin. Tesla Inc is the second-largest bitcoin holding after MicroStrategy.
Saylor also claimed last week that his organization averted a “multi-billion-dollar error” by investing in bitcoin rather than gold.
Overall, MicroStrategy’s principal objective currently appears to be amassing Bitcoin by funneling all of the funds it can get its hands on. As a result, it continues to acquire Bitcoin with cash and keep it in its possession.