Wednesday, October 27, 2021

MicroStrategy has announced $177 million Bitcoin purchase

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MicroStrategy, an American technology firm, announced a new Bitcoin acquisition. The company purchased 3,907 BTC which is worth approximately $177 million.

MicroStrategy, one of the companies that led institutional investors into the crypto money field last year, along with Tesla, Paypal, and Square, was a driving force behind Bitcoin in particular. The company added 3,907 Bitcoins to its balance sheet between July 1 and August 23, according to the 8-K filing submitted to the SEC.

It was stated that the company made this purchase at an average price of $ 45,924. The company headed by Michael Saylor held a total of 108,992 BTC after this purchase, while the average cost was $26,769. This amount is currently worth more than $5 billion.

In his previous interviews, Saylor had given signals that he would buy more Bitcoin. The famous software company made history as the first company on the Fortune 500 list to convert its US dollar funds into Bitcoin. CEO Michael Saylor, who was at the center of criticism during the market crash in May, stood by his decision by not going the way of selling.

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