Breaking: MicroStrategy Buys Additional 5K Bitcoin ($BTC) Worth $243 Million
Microstrategy has continued its Bitcoin buying streak in September as the company bought an additional 5,050 BTC worth $242.9 million at $48,099 per $BTC. The latest purchase takes MicroStrategy’s total Bitcoin investment to over $3 billion. This would also mark the Fortune 500 companies’ biggest one-time cash purchase. The company now holds a total of 114,042 BTC on its balance sheet.
MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7— Michael Saylor⚡️ (@michael_saylor) September 13, 2021
The recent cash purchase by MicroStrategy has also shut down rumors of a possible Bitcoin dump by the company which was on the rise post the last week’s flash crash. A recent report suggested that top executives in the company unloaded a total of over $120 million in $MSTR shares. This in turn gave fuel to the fire about the company’s Bitcoin dump even though CEO Michael Saylor has reiterated that the company has no intention of selling anytime soon.Source