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Jafrin Ahmed
Dec 31, 2021
by Jafrin Ahmed

MicroStrategy Buys $94M More Bitcoin, Now Holds $5.9B in BTC

MicroStrategy Bitcoin $94 million
MicroStrategy, the data analytics software firm helmed by Bitcoin bull Michael Saylor announced its latest big investment in the flagship cryptocurrency. In a regulatory filing on Thursday, the Virginia-based company disclosed purchasing 1,914 BTC worth $94.2 million.

MicroStrategy Goes Big on Bitcoin Yet Again

Nasdaq-listed MicroStrategy bought 1,914 bitcoins between December 9 and December 29 for about $94.2 million in cash. With the latest purchase, the company now holds 124,391 bitcoins worth $5.9 billion purchased for nearly $3.8 billion at an average price of $30,159 per coin.

CEO Michael Saylor who personally owns about 17,732 BTC worth $800 million made the announcement via Twitter, saying:

“Microstrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per bitcoin. As of 12/29/21 we hodl ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin.”
Perma Bitcoin bull Saylor repeatedly says that the flagship cryptocurrency will replace gold. “Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place,” he tweeted earlier this month. In November, he claimed that bitcoin is “unstoppable” and will “emerge as a $100 trillion asset class.” Recently, he predicted that the digital asset will eventually reach $6 million per coin.

Since making its initial investment of $250 million worth of Bitcoin in August 2020, MicroStrategy has gone on to purchase more than $3.7 billion in BTC separately using the company’s cash in addition to sales of convertible senior notes in private offerings to institutional buyers. In the third quarter, the company added almost 9,000 bitcoin to its holdings at an average of 3,000 BTC per month.

In December, BTC lost 17 percent, its worst monthly performance since May when the cryptocurrency went through a massive selloff of roughly 35 percent.

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MicroStrategy Buys $94M More Bitcoin, Now Holds $5.9B in BTC
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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