MicroStrategy Purchased Another $177M of BTC

by in Cryptocurrency News

MicroStrategy Bitcoin Investment August 2021

Michael Saylor, CEO of the enterprise analytics and software solutions entity MicroStrategy revealed another Bitcoin purchase today. The company acquired 3.907 coins for $177 M paying $45,294 per BTC on average.

Related: MicroStrategy CEO compares buying BTC to investing in FB

Thus, MicroStrategy's Bitcoin holdings reached 108,992 units with an average price of $26,769 for each coin.

Microstrategy first invested in BTC on August 11, 2020, buying 21.454 coins for $250 million. Afterwards, investing in Bitcoin has been a part of the company's business strategy.

The firm's previous BTC acquisition was in June. Then it bought 13,005 units for $489 M.

Michael Saylor is a huge crypto and Bitcoin supporter. Recently he tweeted that Bitcoin is a technology that delivers people the right to property. In another tweet, he expressed the opinion that buying BTC is like investing in Facebook stocks.

At the moment, the first cryptocurrency trades for around $48.400 with a market cap of around $907.7 B.