BREAKING: MicroStrategy Announces $177 Million Bitcoin Purchase

BREAKING: MicroStrategy Announces $177 Million Bitcoin Purchase

Business intelligence firm MicroStrategy has purchased an additional $177 million worth of Bitcoin during the third quarter of the fiscal year, according to its most recent filing with the U.S. Securities and Exchange Commission that became public on Aug. 24. The average purchasing price was $45,294 per coin.

The company currently holds 108,992 coins that are cumulatively worth $2.918 billion.

The purchase didn't move the price of Bitcoin, which remains under pressure after reclaiming the $50,000 level for the first time since mid-May on Aug. 23. The largest cryptocurrency is currently trading at $49,211 on the Bitstamp exchange.

As reported by U.Today, MicroStrategy's massive Bitcoin bet recently turned one year. During that period, the company's stock grew by nearly 450 percent while CEO Michael Saylor became a rockstar within the cryptocurrency community with a whopping 1.4 million Twitter followers.