Nasdaq-listed company MicroStrategy announced on the 2nd of February that it purchased an additional 295 BTC worth $10 million. According to the company, the purchase was at an aggregate price of about $33,810 per BTC. Now, MicroStrategy holds a total of about 71,079 BTC, equal to $12.5 billion at current prices.
MicroStrategy has been bullish on BTC since last year, and began acquiring large quantities of the king coin. Since its initial BTC purchase in August 2020, MicroStrategy has made additional purchases and recently bought more Bitcoins on the 22nd of January. At the time, the company added 314 BTC to its portfolio for $10 million in cash.
Noting that BTC acquisitions are part of the MicroStrategy treasury reserve policy, the company CEO Michael Saylor had earlier revealed that the company planned to buy more Bitcoins.
In the company’s financial report for 2020 Q4, Saylor said MicroStrategy would continue to hold Bitcoin. He added that the company would explore other approaches to growing its Bitcoin holdings as part of the company’s “overall corporate strategy.”
While speaking to The Block in an interview last year, Saylor said Bitcoin “is the best money ever created.” He also compared the digital assets to the US dollar and gold. He revealed that their shortcomings led MicroStrategy to invest heavily in BTC.
At press time, BTC is up $4.23% to $35,692.20.
Image Credits: Pixabay
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