In a Tuesday tweet, Michael Saylor announced that MicroStrategy has purchased 3907 Bitcoin
units and currently holds more than 108,000. Sponsored Sponsored
Business analytics firm MicroStrategy is once again shopping for BTC in 2021. This time, it has purchased an additional 3907 BTC from the proceeds of bitcoin sales. This is according to a Tweet
sent out by MicroStrategy co-founder and CEO Michael Saylor. The tweet itself reads:
MicroStrategy purchased an additional 3907 bitcoin for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we own ~108,992 bitcoin purchased for ~$2.918 billion at an average price of ~$26,769 per bitcoin.
According to the SEC Form 8-K that was filed with the purchase, the coins purchased were purchased between July 1 and August 23, 2021. The average purchase price was $26,769 per coin. At this point, the price of Bitcoin
is $48,618. Over the past week, BTC is up about 5% and has reached the $50,000 level for the first time since May. Meanwhile, MicroStrategy shares are down 2.8% after Tuesday’s open.
After this latest spending frenzy, MicroStrategy holds more than twice as much Bitcoin as any other publicly traded company in the market. In a distant second place is Tesla, which holds about 42,000 Bitcoin. According to Saylor, it is his influence
that has led Elon Musk and Tesla to amass more than $1.5 billion in digital currency.
MicroStrategy continues to buy BTC
Bitcoin purchased by MicroStrategy between July 1 and Aug. 23 was a smaller spend than its previous big purchase in June. At that time, MicroStrategy spent nearly $500 million to purchase 13,005 BTC.
Bitcoin, and his decision to do so increased MicroStrategy’s brand reach by a factor of 100, Saylor told Dan Weiskopf in an interview:
Bitcoin is one of the most, if not the most disruptive technology of this decade and it is disrupting the energy industry, the investment community, the technology community, which means it is disrupting the overall political and economic. So it gets people’s attention, it’s progressive and it focuses on people.
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