MicroStrategy additionally bought 1,434 BTC for over $80M

by in Cryptocurrency News


Business analytics software provider MicroStrategy acquired an additional 1,434 BTC for about $ 82.4 million.

According to the report, the average purchase price was approximately $ 57,477. Trades were made between November 29 and December 8, 2021. The funds spent correspond to the proceeds that MicroStrategy received in the same period from the sale of 119,828 shares at $ 693.1 per share.

As of December 9, the firm owns 122,478 BTC, on which it has spent about $ 3.66 billion. At the time of writing, the value of MicroStrategy's digital currency reserves exceeds $ 6 billion.

The firm was the first publicly-traded company to invest its equity capital in digital gold. In August 2020, the provider of business analytics software bought 21,454 BTC (~ $ 250 million at the exchange rate at the time of the transaction).

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MicroStrategy continued to build up its cryptocurrency reserves in line with the strategy approved by the board of directors.

Since December 2020, the company began to use not only equity capital, but also debt financing to buy bitcoin by placing convertible bonds in the amount of $ 650 million.

In February, MicroStrategy issued a new tranche of more than $ 1 billion and again invested the funds raised in cryptocurrency.

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Throughout the year, the firm continued to invest in bitcoin. The largest purchases were 13,005 BTC for $ 489 million in July and 7,002 BTC for $ 414.4 million at the end of November.

For all the time, the average purchase price of bitcoin by the company was about $ 29,861.