MicroStrategy Spends Another USD 177M on Bitcoin

By Eimantas Žemaitis

The first publicly-traded company to put bitcoin (BTC) on its balance sheet as a primary treasury reserve asset, US-based software intelligence firm MicroStrategy, announced yet another purchase of bitcoin.

This time, the company acquired BTC 3,907 for approximately USD 177m in cash at an average price of USD 45,294 per bitcoin, the company said in a statement.

According to the companys founder and CEO, bitcoin bull Michael Saylor, the company now holds BTC 108,992 (c. USD 2.918bn) on its balance sheet.

This amount was acquired for an average price of USD 26,769 per bitcoin. However, at pixel time (UTC 12:40), the entire companys stash is now worth around USD 5.35bn.

MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin. $MSTRhttps://t.co/8jUlJImJbO

In some of the latest public remarks concerning their Bitcoin strategy, MicroStrategy affirmed that it has no specific target for their BTC holdings and they plan to continue raising money for buying bitcoin.

We view our bitcoin holdings as long-term holdings, and we do not plan to engage in regular trading of bitcoin and have not hedged or otherwise entered into derivative contracts with respect to our bitcoin holdings, the company said in June.

A constantly updated list of companies holding bitcoin as a reserve asset can be found here.

BTC is currently trading at USD 49,195. Its down 2% in a day and up 6.8% in a week.

____

Learn more:

- Bitcoin MicroStrategy: Down by USD 479M in 2021, Up by USD 676M in 10 Months

- Bitcoin Mega Bull MicroStrategy CEO Gives Hope To Ethereum, Altcoins

- MicroStrategy Has No Limits For Bitcoin Purchases, Discusses Sale Scenarios

- This Is When MicroStrategy Might Sell Bitcoin According to Arthur Hayes

- MicroStrategy Offers USD 400M Bitcoin Market Test

- MicroStrategy Raises Free USD 1B to Buy More Bitcoin As It Hits USD 1T Market Cap

- MicroStrategy Sees USD 1.6B Interest in Their Bitcoin Offer - Report

- MicroStrategy Gets USD 500M To Spend on BTC, Goldman Sachs ETH plan + More News

Follow us on Twitter or join our Telegram

MicroStrategy Bitcoin Investing Adoption