MicroStrategy Tossed Yet another Billion at Bitcoin
Cryptocurrency Speculator – Max
MicroStrategy has made a habit of putting its money where its mouth is. In its latest acquisition round, the market analytics company swallowed another 19,452 billion Bitcoin worth around $1,026 billion.
The CEO of the company and very outspoken Bitcoin trading evangelist, Michael Saylor, announced the news on Twitter, mentioning that the company acquired the asset at an estimated price of $52,765 per Bitcoin.
The company revealed on February 19 that it had earned $1.05 billion from its debt offering. This figure is over $100 million more than the previous bid of $900 million. MicroStrategy shifted its target from $600 million to $900 million before eventually collecting more than a billion dollars.
Following its most recent acquisition, MicroStrategy currently owns roughly 90,531 Bitcoins, rendering it the highest established institutional investor in the digital currency. According to data from Bitcoin Treasuries, MicroStrategy is being monitored by Tesla, Galaxy Digital, and Square.
Saylor elaborated on the recent developments in the statement:
“The group continues to focus on our two strategic objectives to expand our enterprise insights platform business and to acquire and retain multiple Bitcoin investments.”
Saylor went on to say that Bitcoin could act as a "reliable store of value" and that his company will aim to buy Bitcoin in bulk.