MicroStrategy Chief Executive Officer Michael Saylor recently said that his company has just bought an additional 3,907 bitcoins, which is worth $177 million at the time of the purchase. MicroStrategy bought bitcoins at an average price of $45,294.
Saylor has fulfilled his promise last time, during the company’s second-quarter earnings, that MicroStrategy would further add Bitcoin into its already piling BTC asset.
“As of 8/23/21 we #hodl ~ 108,992 bitcoins acquired for ~ $2.918 billion at an average price of ~ $26,769 per bitcoin,” Saylor tweeted.
Massive bitcoin asset
The company currently has an astounding 108,992 bitcoins on its balance sheet, with an average price of about $26,769 for each BTC. MicroStrategy’s total bitcoin value at today’s price is worth $2.918 billion.
What’s more, the company has the bragging rights of having the most bitcoin purchases than any other public company in the world, even more than Elon Musk’s Tesla.
MicroStrategy is aggressively investing in Bitcoin to better position itself as the leading bitcoin authority in the highly competitive BTC space, which is now attracting big companies who also want to tap the crypto’s potential.
The company is also helping other companies, such as Tesla in converting their balance sheets into bitcoin.
Another notable thing about MicroStrategy is that it does not venture into any bitcoin lending or investing in other cryptos. It remains firm in its focus of buying bitcoin with cash.
More about MicroStrategy
MicroStrategy is a company that provides business intelligence, cloud-based services, and mobile software. It was founded by Michael Saylor in 1989 with Thomas Spahr and Sanju Bansal.
The company develops software that can analyze internal and external data to develop mobile applications and make more efficient business decisions.
Image courtesy of Cointelegraph News/YouTube
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