Enterprise analytics company MicroStrategy revealed buying 13,005 bitcoins for $489 M. The company's CEO Michael Saylor tweeted that currently, the company owns over 100.085 BTC purchased for around $2.7 B at an average price of about $26,080 per coin.
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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
On June 7 MicroStrategy revealed starting to receive $400 M via a private offering of senior secured notes. The goal was to use the net income from the sale to increase its Bitcoin holdings.
The company made its first Bitcoin purchase on August 11, 2020. After that its stock has grown.
Although the software company closed down 9.7% Monday related to Bitcoin's price decline, revenues are higher.
Presently, Bitcoin trades at around $31.500 which is 50% down from the all-time high of $64.800 reached in mid April 2021.
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Microstrategy's CEO Michael Saylor is a huge Bitcoin believer. Recently answering the question of why his company keeps buying BTC, he stated that's one of MicroStrategy's strategies. Saylor also said Bitcoin is "digital gold in a large technological network."