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MicroStrategy Bought 1,434 BTC Worth $82.4 Million at $57.5K

The NASDAQ-listed tech giant, spearheaded by Michael Saylor, continues its BTC buying spree after another substantial purchase worth more than $80 million.

  • Michael Saylor, one of the most prominent bitcoin advocates, who is also the founder and CEO of MicroStrategy, announced the latest purchase earlier on December 9th.
  • The company has accumulated another 1,434 coins for approximately $82.4 million in cash at an average price of around $57,500 per bitcoin. This means that the purchase was made most likely last week since BTC’s price has been stuck below $50,000 ever since the Saturday crash.
  • This is the tech behemoth’s second bitcoin buy in the past few weeks. As reported by CryptoPotato in late November, the firm then spent $414 million to swipe just over 7,000 coins.
  • Consequently, the company’s total stash is now 122,478 bitcoins, which were acquired for $3.66 billion at an average price of just under $30,000.
  • Given bitcoin’s price as of writing these lines – inches away from $50,000 – this means that MicroStrategy’s entire BTC portfolio is now worth over $6 billion.
Read more:  I Would Hold Only Bitcoin for the Next 30 Years, Says Mexico's Third-Richest Person

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Tags: Bitcoin Bitcoin (BTC) Price Michael Saylor MicroStrategy

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