MicroStrategy Buys Another $50 M Worth of BTC

by in Cryptocurrency News

MicroStrategy buys 50M worth of bitcoin

Nasdaq-listed business analytics and mobility platform MicroStrategy got 2574 bitcoins for $50 million. This makes 40,824 BTC, for a total of about half a billion dollars in crypto assets in MicroStrategy's portfolio. The CEO of MicroStrategy Michael Saylor confirmed the news on his social networks:

Related: Novogratz urged investors to invest 3% of capital in BTC

The company is a famous Bitcoin hodler. Having done its first purchase in August, the firm continues to store up its BTC supplies. The first investment the firm made was at the time when the cryptocurrency's price was $9,882. The recent purchase was for $19,427 per bitcoin. So, the market price didn't influence MicroStrategy's investment initiative.

For now, MicroStrategy is the most invested firm in crypto assets. It has twice more BTC than its nearest competitor Galaxy Holdings, which owns 16651 BTC. Square takes third place with 4709 BTC.

MicroStrategy also tries to take part in the development of the blockchain by investments and token acts. At the end of October, MicroStrategy installed its first Bitcoin node.