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MicroStrategy: Another Dip, Another $10M Bitcoin Purchase
The listed firm now holds 92,079 BTC bought for a total of $2.251 billion.
Updated Sep 14, 2021, 12:56 p.m. Published May 18, 2021, 12:25 p.m. 1 min read
Publicly traded business intelligence firm MicroStrategy (NASDAQ: MSTR) is making the most of the downturn in bitcoin prices as it bought another 229 BTC for $10 million in cash.
- The purchase, which was disclosed by CEO Michael Saylor on Twitter and in an filing with the U.S. Securities and Exchange Commission Tuesday, was for an average price of $43,663 per bitcoin.
- MicroStrategy now holds 92,079 BTC bought for a total of $2.251 billion at an average price of about $24,450 per bitcoin.
- That means the firm has almost doubled its money since it started investing in the cryptocurrency, with the total holdings now worth $4.15 billion, according to CoinDesk's price calculator.
- Only five days ago, Saylor announced the purchase of 271 BTC for $15 million.
- The company has a policy of regularly buying bitcoin for its treasury reserves as a hedge against U.S. dollar inflation.
- At press time, a bitcoin is worth $45,141, roughly flat over 24 hours.
See also: Crypto Custodian Copper Raises $50M in Series B Round
Higit pang Para sa Iyo
CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
Ano ang dapat malaman:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
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