MicroStrategy Wont Stop Buying Bitcoin, Adds Another $1.1 Billion Worth Of BTC
Michael Saylors software company MicroStrategy is pushing forward with its Bitcoin buying spree in January, today scooping up about $1.1 billion worth of the orange coin. The move marks the companys 11th week in a row of Bitcoin acquisitions.
MicroStrategys Bitcoin holdings now stand at 461,000 BTC following the latest acquisition.
MicroStrategy Buys 11,000 More Bitcoin
An SEC filing and Monday announcement from MicroStrategys co-founder and Bitcoin bull Michael Saylor showed that MicroStrategy spent $1.1 billion buying 11,000 BTC at an average price of $101,191.
The filing also reveals that MicroStrategy currently holds approximately 461,000 BTC, acquired at an average price of $63,610 per Bitcoin, including fees and expenses. The company has spent approximately $29 billion to build its Bitcoin stack at an average price of $63,610.
MicroStrategys Bitcoin buy follows the sale of a further 3,012,072 of its company shares during the same period for the same amount. As of Jan. 20, the firm said roughly $5.42 billion worth of shares remained available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities capital raise, targeting a total of $42 billion for BTC acquisitions.
On Jan. 6, MicroStrategy acquired another $101 million worth of Bitcoin, equivalent to 1,070 BTC at an average price of $94,004.
MicroStrategy is a publicly listed business intelligence company founded in 1989. In 2020, it pivoted to start purchasing as much Bitcoin as possible. The firm now owns over 2% of Bitcoins total 21 million supply.
Years after MicroStrategy pioneered large-scale corporate Bitcoin investment, the strategy started picking up steam among other public companies. Other holders include Elon Musks EV maker Tesla, healthcare technology company Semler Scientific, and Tokyo-based Metaplanet.
Read more: https://zycrypto.com/microstrategy-wont-stop-buying-bitcoin-adds-another-1-1-billion-worth-of-btc/
Text source: ZyCrypto
