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MicroStrategy Buys Another $1B in Bitcoin

MicroStrategy has purchased an additional 19,452 BTC for about $1.026 billion in cash, pushing its total Bitcoin reserve to 90,531 BTC.

According to reports, this recent purchase was made at an average price of $52,765 per BTC. In total, MicroStrategy has purchased $2.171 billion worth of Bitcoin at an average purchase price of $23,985 per BTC. The company’s Bitcoin holdings are currently worth $4.78 billion.

MicroStrategy’s recent Bitcoin purchase was secured less than a week after the company completed an offering of $1.05 billion in convertible senior notes. The company has now borrowed $1.7 billion in funds for the explicit purpose of purchasing Bitcoin.

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Written by IJAM.ng

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