MicroStrategy announces new bitcoin buy worth $177 million

MicroStrategy announces new bitcoin buy worth $177 million

Michael Saylor's publicly traded company MicroStrategy has expanded its bitcoin hoard once again, announcing the purchase of 3,907 BTC for a total of $177 million.

The purchase was disclosed Tuesday. This brings MicroStrategy's total bitcoin supply to 108,992 BTC, an amount worth approximately $5.3 billion at press time. Saylor said Tuesday morning that the company has spent "~$2.918 billion at an average price of ~$26,769 per bitcoin" to obtain the digital assets.

As shown in the chart below, Tuesday's announcement marks the first of its kind since June. Saylor's MicroStrategy, a business intelligence software company, began acquiring bitcoin on its balance sheet last year.

Source