MicroStrategy owns over 3 billion dollars worth of Bitcoin, after completing another purchase round! MicroStrategy owns over 3 billion dollars worth of Bitcoin – equaling more than 100,000 bitcoins, after spending roughly $489 million on 13,005 tokens.
The Virginia-based software company closed down nearly 10%, mirroring a slide in the price of Bitcoin. Bitcoin was down more than 7% to around $32,600 per token at the time of purchase as reports surfaced that China was increasing its crackdown on Bitcoin mining.
MicroStrategy said that the average purchase price of its Bitcoin holding of 105,085 tokens is around $26,080 a piece, including fees and other expenses. The company’s overall holdings were worth more than $3 billion as of Monday.
MicroStrategy has gone from relative obscurity to a well-known force on Wall Street and in the crypto community thanks to its aggressive bets on Bitcoin. Chairman and CEO Michael Saylor is a definite crypto evangelist who routinely touts Bitcoin on Twitter. He has more than 1 million followers on Twitter.
MicroStrategy’s stock has soared since the company announced its first bitcoin buy before the bell on August 11th. Shares have risen around 423% from its Aug. 10th close. The stock then hit a 52-week high on Feb. 9th, trading above $1,300 per share.
Bitcoin has hit a rough trading patch in the last 2 months after hitting its all-time high near $65,000 in April. Bitcoin was still up about 11% to date, based on Monday’s trading price.
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