MicroStrategy Purchases $243 Million In Bitcoin

Kavya  |  Sep 14, 2021

According to a recent regulatory filing, business analytics firm MicroStrategy purchased $242.9 million in Bitcoin. The entire value of the firm's Bitcoin acquisitions during the third quarter of 2021 is present $419 million.

$243 Million In Bitcoin Purchase By MicroStrategy

According to the executive, the business intelligence organization acquired 5,050 BTC at an average price of about $48,099 per bitcoin.

The CEO also disclosed that the Bitcoin purchase cost around $242.9 million. MicroStrategy paid about $177 million for around 4,000 Bitcoin in August. 

In addition, after financing $500 million, the business intelligence behemoth purchased almost 13,000 BTC in June.

With this recent acquisition, MicroStrategy's CEO claimed that the business now has 114,042 BTC in total. This sum currently has a USD value of more than $5 billion.

Saylor: No Price Can Persuade Me To Sell Bitcoin

It has been over a year since the gentleman who developed and controls MicroStrategy revealed the company's first large BTC acquisition valued at more than $200 million. 

Over the next eleven months, the NASDAQ-listed business intelligence company continued to acquire, eventually amassing more than 100,000 coins, and Saylor became regarded as one of the most famous Bitcoin bulls.

In a recent interview with Coin Stories' Natalie Brunell, the executive discussed the possible implications for him and his business if BTC fails to keep its price above a particular price barrier or even falls below MicroStrategy's average entry point.

Even if such a scenario occurred, he would not be compelled to sell. He compares bitcoin to fire and electricity and views adoption as a natural progression.

Meanwhile, the purchase news comes as BTC has fallen by more than 2% in the previous 24 hours, with the largest cryptocurrency presently selling at more than $44,000.

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