MicroStrategy announced on the 21st of June that it had purchased additional Bitcoin worth $489 million. The recent acquisition is a total of 13,005 coins, bought at an average price of $37,617.
Last month, MicroStrategy CEO Michael Saylor revealed that the company had bought 229 units of BTC for $10 million. At the time, the company boasted of 92,079 Bitcoins. Now, Microstrategy owns a total of 105,085.
MicroStrategy’s most recent acquisition came about two weeks after the company announced a debt offering. The company also revealed the successful completion of its $500 million corporate bond sale. MicroStrategy noted that it would use the net proceeds of nearly $489 million to buy more Bitcoin.
The business intelligence company has invested more than $2.7 billion in Bitcoin since it began its acquisition spree in August 2020.
Bitcoin purchase is one of MicroStrategy’s two corporate strategies. The company revealed in a filing with the US Securities and Exchange Commission (SEC) that it will continually buy and hold Bitcoin. The business intelligence company added that it is currently exploring opportunities that will allow it to include Bitcoin-related technologies, such as blockchain analytics, into its software offerings. In addition, MicroStrategy plans to keep its BTC on a long-term basis and not engage in regular trading.
At press time, Bitcoin is down 6.93% to $32,287. At the current trading price, MicroStrategy’s total Bitcoin holding is over $3.3 billion.
Image Credits: Pixabay
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