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Saylor's MicroStrategy Buys Another $177M of Bitcoin
The business intelligence firm is buying bitcoin again after a brief lull.
Business analytics software provider MicroStrategy (NASDAQ: MSTR) has added another 3,907 bitcoins to its vast trove of the original cryptocurrency.
STORY CONTINUES BELOW
- According to a Tuesday filing with the U.S. Securities and Exchange Commission, the company spent about $177 million on its latest BTC purchase, at an average price of approximately $45,294 per coin.
- In total, the firm holds 108,992 BTC, according to a tweet from CEO Michael Saylor:
MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin. $MSTRhttps://t.co/8jUlJImJbO
— Michael Saylor⚡️ (@michael_saylor) August 24, 2021
- MicroStrategy's stock, which some investors use as a proxy for the price of bitcoin, has sunk from a high of $1,273 per share in March to $718 as of press time.
- The price of bitcoin is down 2% over the last 24 hours, changing hands at $49,191.30 at time of publication.
Read more: MicroStrategy CEO Likens Borrowing to Buy Bitcoin to Investing Early in Facebook
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
