Popular business intelligence and software company MicroStrategy has not yet shown any signs of reducing its Bitcoin buying frenzy and adding more assets to its portfolio at every opportunity. The company’s CEO Michael Saylor recently announced on Twitter that MicroStrategy recently purchased bitcoins, and the company increased its purchases by 253 BTC.
MicroStrategy Holds 91,579 BTC
According to Saylor, the bitcoins were bought for $15 million in cash, including fees and other expenses. The average purchase price per Bitcoin unit is $59,339.
Currently, MicroStrategy has amassed 91,579 BTC in its investment portfolio, all of which were purchased for $2.226 billion with an average price of $24,311 per bitcoin unit. At the time of writing, the leading price on cryptocurrency transactions is $58,300 and the company’s Bitcoin investment is around $5.3 billion.
Since the initial purchase of Bitcoin in August 2020, MicroStrategy has used every available opportunity to increase its Bitcoin holdings. This includes the provision of senior convertible bonds.
Also, the company is the first to use Bitcoin as its primary reserve asset. MicroStrategy believes it has the potential to revolutionize the current financial system.
MicroStrategy Incorporated is a business intelligence (BI) company, mobile software, and cloud-based services. The company was founded in 1989 by Michael J. Saylor and Sanju Bansal to develop software to analyze internal and external data, make business decisions, and develop mobile applications. In addition, it is a public company headquartered in Tysons Corner, Virginia, Washington.