MicroStrategy Bought 7002 Bitcoins

by in Cryptocurrency News

MicroStrategy Purchases Bitcoin

Software company MicroStrategy announced acquiring 7.002 Bitcoins worth around $414 M on November 29. The average price of the coin was $59,187, including fees and expenses.

Related: David Abner: SEC recognizes bitcoin as an asset class

Currently, the company holds about 121,044 BTC purchased for nearly $3.57 billion at an average price of $29.534 per coin.

On October 28, the company released the report of its Q3 results.

As the release showed in that interval, the company bought around 9000 bitcoins. The company delivered strong quarter results based on operational and digital asset strategies.

MicroStrategy continues to be the leading company by the number of BTC funds. The first time it bought BTC was in August 2020. At the time, the firm purchased 21.454 bitcoins for $250 million. The price of one BTC was around $11.000.

Currently, Bitcoin trades at about $52.000. The first crypto reached its all-time high of $68.789 on November 10. MicroStrategy's investment policy includes buying BTC when its price is down. The CEO Michael Saylor often tweets about the coin, highlighting its importance.