In another purchase: “MicroStrategy” buys Bitcoin for $ 15 million
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Answer In another purchase: “MicroStrategy” buys Bitcoin for $ 15 million
Nasdaq-listed MicroStrategy continues its bitcoin investment strategy with the purchase of another 262 bitcoins worth $15 million.
Mr. Michael Saylor has kept his promise to allocate additional funds to buy more Bitcoin.
MicroStrategy announced on Friday that it has added 262 bitcoins to its large pool of more than 91,000 bitcoins.
Advertising About the news of buying more bitcoin was announced by Saylor, the company’s founder and CEO, who on Friday told about the new purchase on Twitter.
MicroStrategy bought an additional 262 Bitcoins for $15.0 million in cash at an average price of $57,146 each # bitcoin. As of 3/12/2021, we #hodel ~91,326 bitcoins were acquired for $2.211 billion at an average price of ~$24,214 per bitcoin. $ mstr
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– Michael Saylor (@michael_saylor) 12 March 2021
A few weeks after the last purchase of Bitcoin worth $10 million by the same company “MicroStrategy”, it seems that this time the company decided to raise the level of purchase by allocating the amount of $15 million.
The last bitcoin purchase made by Micro Strategy was at an average price of 57,146 per bitcoin.
The number of bitcoins hoarded by the company has increased to 91,326 bitcoins, with an estimated average purchase price of $24,214.
In other words, MicroStrategy has put $2.2 billion worth of its own money into bitcoin since it was first bought in August 2020.
This means that this amount invested by the company has increased after the price of Bitcoin rose to its current levels, bringing the value of the “Micro Strategy” company’s investments in Bitcoin to reach a value of more than 5 billion dollars.
Aside from seizing every opportunity to buy more bitcoin, Saylor and his company found additional ways to promote the underlying cryptocurrency.
MicroStrategy became a full node on the Bitcoin network last year and made the cryptocurrency a reserve asset for the primary treasury shortly after.
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MicroStrategy did not stop there but held several seminars in February of this year and hosted thousands of executives to educate them about the potential benefits of investing in Bitcoin.
MicroStrategy has also launched a similar initiative targeting retail investors, this initiative bears the name “Bitcoin for All”, which is an educational course available free of charge on the “Sailor” academy platform.
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