CoinInvestment

MicroStrategy increased its Bitcoin holdings by purchasing another 5050 BTC for $242.9 million

MicroStrategy has added 5,050 BTC to its Bitcoin supply, purchasing them at a mean price of $48,099 per coin. As a result, the firm’s most recent acquisition cost was over $243 million.

Given the mean coin price of $48,099 cited by the firm’s CEO, Michael Saylor, it’s safe to conclude that the purchase occurred before the major digital currency’s recent drop below $43,000.

To the astonishment of the crypto world, Saylor first chose to keep quiet about the purchase, saying merely, “The quieter you drive, the further you will be.” He had previously kept a log of each Bitcoin purchase on his Twitter account, including the price and quantity of coins acquired. The transaction was made public after MicroStrategy filed a filing with the US Securities and Exchange Commission.

There was additional information concerning MicroStrategy’s present state of affairs. The recent payment of 5,050 BTC increased the firm’s Bitcoin holdings to $5.1 billion, a 42 percent increase. If we look at MicroStrategy‘s total Bitcoin spending throughout the year, it comes to over $3.16 billion.

After some time, Saylor decided not to break with tradition and sent another fraction of the “purchases” information to all subscribers. Despite allegations of a “transfer” of MicroStrategy’s cryptocurrency riches to a subsidiary’s account and the selling of shares by many directors, the company’s CEO appears to be sticking to his “crypto vector” and has no plans to sell assets.

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