MicroStrategy Owns More Than 100,000 Bitcoins After Another Purchase Worth $500 Million
Michael Saylor’s business intelligence giant now owns over 100,000 bitcoins after the company purchased another chunk of 13,005 BTC for nearly $500 million. Consequently, the firm now has 0.5% of all bitcoins ever to exist.
- The founder and CEO of the NASDAQ-listed company announced the latest purchase earlier on June 21st.
- It came after the firm raised $500 million through an offering of senior secure notes, as reported earlier.
MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin. As of 6/21/21 we #hodl ~105,085 bitcoins acquired for ~$2.741 billion at an average price of ~$26,080 per bitcoin. $MSTRhttps://t.co/gLfnOxZEZc
— Michael Saylor (@michael_saylor) June 21, 2021
- As Saylor explained, the 13,005 coins were purchased for just under $500 million with an average price of $37,617.
- With its latest massive buy, MicroStrategy owns 105,085 bitcoins. It has allocated a total of over $2.7 billion in the asset at an average price of $26,080.
- From a percentage point of view, the number of coins MicroStrategy has now is 0.5% of all bitcoins ever to exist and 0.56% of the tokens currently in circulation.
- Apart from its sizeable investment in BTC, the firm and its CEO have also done multiple other pro-bitcoin endeavors.
- MicroStrategy hosted an online BTC conference for executives from large corporations, aiming to outline the benefits of investing in the primary cryptocurrency.
- The firm made bitcoin its treasury reserve asset and started paying non-employee directors in BTC instead of cash.
- Additionally, Saylor launched a course of its own for retail investors and has used every opportunity to praise the cryptocurrency on traditional media.