MicroStrategy Owns More Than 100,000 Bitcoins After Another Purchase Worth $500 Million
Michael Saylor’s business intelligence giant now owns over 100,000 bitcoins after the company purchased another chunk of 13,005 BTC for nearly $500 million. Consequently, the firm now has 0.5% of all bitcoins ever to exist.
The founder and CEO of the NASDAQ-listed company announced the latest purchase earlier on June 21st.
It came after the firm raised $500 million through an offering of senior secure notes, as reported earlier.
MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin. As of 6/21/21 we #hodl ~105,085 bitcoins acquired for ~$2.741 billion at an average price of ~$26,080 per bitcoin. $MSTRhttps://t.co/gLfnOxZEZc
— Michael Saylor (@michael_saylor) June 21, 2021
As Saylor explained, the 13,005 coins were purchased for just under $500 million with an average price of $37,617.
With its latest massive buy, MicroStrategy owns 105,085 bitcoins. It has allocated a total of over $2.7 billion in the asset at an average price of $26,080.
From a percentage point of view, the number of coins MicroStrategy has now is 0.5% of all bitcoins ever to exist and 0.56% of the tokens currently in circulation.
Apart from its sizeable investment in BTC, the firm and its CEO have also done multiple other pro-bitcoin endeavors.
MicroStrategy hosted an online BTC conference for executives from large corporations, aiming to outline the benefits of investing in the primary cryptocurrency.
The firm made bitcoin its treasury reserve asset and started paying non-employee directors in BTC instead of cash.
Additionally, Saylor launched a course of its own for retail investors and has used every opportunity to praise the cryptocurrency on traditional media.
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