US company MicroStrategy bought nearly $150 million worth of bitcoin between August 1 and September 24, according to regulatory filings. MicroStrategy is a company that provides various services such as mobile software and cloud services.
The document said MicroStrategy and its subsidiaries acquired approximately 5,445 bitcoins for about $147.3 million, at an average price of approximately $27,053 per bitcoin, after fees and expenses, cited by CoinDesk.
MicroStrategy thus holds nearly 158,245 Bitcoins, which were acquired at a total purchase price of approximately $4.68 billion at an average purchase price of $29,582 per Bitcoin.
Meanwhile, the company said it issued and sold a total of 403,362 shares to fund the purchase. As recently as last August, MicroStrategy said it could raise up to $750 million by selling more shares and plans to use some of the proceeds to buy more bitcoins.
MicroStrategy is known for frequently making such huge cryptocurrency purchases. What’s more, in August 2020, it became the first public company with a capitalization of over $1 billion to own a cryptocurrency.
In 2021, MicroStrategy surpassed even Tesla in this regard, with the electric car maker in second place with $1.5 billion in Bitcoin, while MicroStrategy held $3.5 billion in the cryptocurrency.
Even then, the company announced that it intended to pay its executives in the virtual currency Bitcoin instead of traditional money. It is unclear whether this continues to this day.
2023-09-26 15:30:47
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