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Enterprise software company MicroStrategy (MSTR.US) is investing in Bitcoin as part of its corporate strategy. This month, the company purchased over 3,000 bitcoins at a price of $155.4 million. Based on current market prices, this brings the total value of Bitcoin held by the company to around $9.8 billion. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, this recent purchase was made in cash between February 15 and February 25. This brings the company's total Bitcoin holdings to approximately 193,000 coins.
MicroStrategy's Chairman and co-founder, Michael Saylor, started buying Bitcoin in 2020 as a hedge against inflation and an alternative to holding cash. When asked about the possibility of selling the company's Bitcoin holdings in a recent interview, Saylor stated, "There's no reason to sell winners." Since Saylor began buying, the value of Bitcoin has increased by about 460%.
The filing indicates that Saylor's average price for the recent purchase was $51,813 per Bitcoin, with an overall average price for the total holdings at $31,544 per Bitcoin. On Monday, the price of Bitcoin remained relatively stable, around $51,379.
Earlier this month, as the price of Bitcoin reached its highest point in over two years, the value of Saylor's Bitcoin holdings briefly expanded to $10 billion. |
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Post time 4-3-2024 20:37:16