MicroStrategy add $242 million Bitcoin to stash
MicroStrategy, a business intelligence firm and corporate Bitcoin whale, announced on Monday that it had acquired an additional 5,050 BTC for about $242.9 million.
MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7
— Michael Saylor⚡️ (@michael_saylor) September 13, 2021
Following its latest purchase, MicroStrategy has now bought 8,957 in the third quarter of 2021 (approximately $419 million). Recall that in August, the US-based NASDAQ-listed firm purchased 3,907 BTC at an average price of $45,294 per BTC in August. In total the company’s Bitcoin stash has grown to roughly $5.1 billion at an average buying price is $27,713 per BTC.
Meanwhile, as of press time, Bitcoin was trading close to $45,000 on several exchange platforms. The flagship cryptocurrency has dropped by 3.7% in the last 24 hours and 14.1% over the past seven days.
MicroStrategy’s disclosure comes a few days after El Salvador announced a 150 BTC purchase ahead of the full implementation of El Salvador’s Bitcoin Law.