MicroStrategy add $242 million Bitcoin to stash
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MicroStrategy add $242 million Bitcoin to stash

Saudu Clement
Saudu Clement

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.

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.