Michael Saylor’s MicroStrategy Now Owns Over 100,000 BTC With New Purchase
Michael Saylor’s MicroStrategy is announcing the purchase of additional Bitcoin that will put their BTC holdings above the 100,000 level.
In a press release, the enterprise analytics firm says it has spent $489 million buying 13,005 BTC, bringing the total amount of Bitcoin it holds to 105,085.
The software giant spent an average of $37,617 per Bitcoin on the latest purchase. Overall, MicroStrategy says its average buying price of all the Bitcoin it holds is $26,080, having invested billions of dollars on the flagship crypto since beginning its purchases last year.
“As of June 21st, 2021, MicroStrategy holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per Bitcoin, inclusive of fees and expenses.”
The latest purchase comes after MicroStrategy revealed earlier this month that it was borrowing $500 million in senior secured notes to buy Bitcoin. After raising half a billion dollars, MicroStrategy also announced plans to issue new stock in order to generate up to $1 billion that may be used to purchase even more Bitcoin.
“MicroStrategy pursues two corporate strategies in the operation of its business. One strategy is to acquire and hold Bitcoin, and the other strategy is to grow our enterprise analytics software business.
In the first quarter of 2021, we determined to pursue as part of our overall corporate strategy, a strategy of acquiring Bitcoin with our liquid assets that exceed working capital requirements, and from time to time, subject to market conditions, issuing debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase Bitcoin.”
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Author: Daily Hodl Staff
