MicroStrategy, the business-intelligence software company purchased almost 9,000 bitcoins to its holdings in the third quarter, bringing its total stash to 114,042 for a valuation of around $7 billion.
<h2 class="entry-title">MicroStrategy Purchased 9,000 Bitcoins in the Third Quarter</h2>
MicroStrategy <a href="https://www.microstrategy.com/en/investor-relations/press/microstrategy-announces-third-quarter-2021-financial-results" target="_blank" rel="nofollow noopener">announced</a> the purchase of 8,957 BTC in its Q3 report on Oct. 28, with CEO <a href="https://www.cryptoknowmics.com/news/michael-saylor-says-bitcoin-is-the-future-of-property-remains-very-bullish-on-btc/">Michael Saylor</a> stating that there will be more Bitcoin accumulation to come:
<blockquote><em>“MicroStrategy delivered strong third-quarter results that demonstrated successful execution on both our operational and digital asset strategies. We also significantly expanded our BTC holdings in the quarter, adding nearly 9,000 bitcoins to our holdings after successfully raising capital in the quarter through our at-the-market equity offering.”</em>

<em>“Today, MicroStrategy is the world’s largest publicly traded corporate owner of Bitcoin with over 114,000 Bitcoins. We will continue to evaluate opportunities to raise additional capital to execute on our Bitcoin strategy,” </em>Saylor added.<em>
</em></blockquote>
The firm increased its Bitcoin holdings by 198% since the same period last year. As of Sept. 30, the total holdings stood at 114,042 BTC with an estimated average purchasing price of $27,713 per BTC, or a total spend of $3.16 billion.

At current prices, the value of its bitcoin holdings is just over $7 billion with MicroStrategy’s entire market capitalization being roughly $7.4 billion.
<h2><strong>MicroStrategy Will Continue Buying More BTC</strong></h2>
CEO Michael Saylor said on MicroStrategy’s earnings conference call that the company is committed to buying bitcoin and doesn’t have plans to sell while calling bitcoin a “great” long-term investment for shareholders. Shares of MicroStrategy are up 85% this year amid the resurgence of Bitcoin and other cryptocurrencies, spiked by increasing mainstream adoption of digital assets.

MicroStrategy is not the only public-listed Bitcoin holder, several other companies including <a href="https://www.cryptoknowmics.com/news/tesla-indicates-that-it-may-soon-restart-cryptocurrency-payment-services/">Tesla</a>, <a href="https://www.cryptoknowmics.com/news/chinese-firm-meitu-announces-another-10-million-crypto-investment/">Meitu</a>, and Square expanded their BTC holdings significantly in the first three quarters of 2021. In October, the total value of MicroStrategy’s BTC holdings reached a record high after BTC touched an all-time high of $66,000.

MicroStrategy Added 9,000 Bitcoins Last Quarter Worth $7 Billion

MicroStrategy, the business-intelligence software company purchased almost 9,000 bitcoins to its holdings in the third quarter.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

MicroStrategy Added 9,000 Bitcoins Last Quarter Worth $7 Billion

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