MicroStrategy Inc the world’s biggest corporate holder of bitcoin has purchased additional 5,050 bitcoins

MicroStrategy Inc the world’s biggest corporate holder of bitcoin (BTC), on Monday announced that it has purchased an additional 5,050 bitcoins for $242.9 million or about ₹1,800 crore at an average price of $48,099 per bitcoin.

On Monday, bitcoin, was trading around 3% lower at $44,833.70, a digital currency price and information data platform.

MicroStrategy company, founded in 1989 is a business intelligence, cloud-based services and mobile software.

The US-based company now holds 114,042 bitcoins of $3.16 billion at an average price of $27,713 per bitcoin.

The company also announced that during the period between 1 July and 12 September, they approximately purchased 8,957 bitcoins for approximately $419.9 million in cash, at an average price of $46,875 per bitcoin, inclusive of expenses and fees.

Apart from this, the company also announced that it has sold around 5,55,179 shares for $399.9 million, as part of its previously announced plan to sell up to $1.0 billion worth of its stock.

MicroStrategy is among one of the earliest and oldest corporate backers of the world’s as well as the biggest cryptocurrency. The company in August 2020 had said that to acquire the cryptocurrency it was using existing cash on its balance sheet .

The company in July had pledged to keep on buying bitcoin despite witnessing cumulative impairment losses of $689.6 million from holding digital assets on its books in its May-June quarter earnings.

US electric-car maker Tesla Inc is the biggest corporate holder of bitcoin After MicroStrategy. Tesla had reported that on its balance sheet it was holding $1.3 billion worth of bitcoin.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: