Leading business intelligence and software company MicroStrategy recently acquired an additional 660 bitcoins between the periods of December 30th 2021 and January 30th 2022.
Per the Tuesday announcement, the bitcoin purchase by the America-based company was made at an average price of $37,865 per BTC bringing the total amount of purchase to approximately $25 million.
With the latest procurement, MicroStrategy now holds a massive total of 125,051 bitcoins (worth about $5 billion as of press time), after crossing the 100,000 bitcoin ownership mark in June 2021. All 125,051 bitcoins were bought at an aggregate buying price of $3.78 billion and at an average buying price of approximately $30,200 per bitcoin, fees and expenses included.
MicroStrategy has no doubt achieved a significant feat in the crypto industry as the company is so far the largest corporate holder of bitcoin.
Ever since it first acquired bitcoin in 2020, MicroStrategy has been making back-to-back purchases, worth millions of dollars, of the leading cryptocurrency.
Over time, the company has made several moves as part of attempts to generate more capital to buy more bitcoins, even going into debt in the process.
In fact, MicroStrategy presently has an over $2 billion debt to settle, money that was dedicated to bitcoin purchase.
MicroStrategy Not Selling Anytime Soon
Even with billions of dollars in debt and the recent slump in the value of bitcoin, Michael Saylor, Chief Executive Officer (CEO) of MicroStrategy, revealed recently that the company does not plan to sell its bitcoins anytime soon.
“We’re not sellers. We’re only acquiring and holding Bitcoin, right? That’s our strategy.”
The company’s Chief Financial Officer (CFO), Phong Le, also shares similar sentiments with Saylor.
“Our strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flow or we find other ways to raise money, we continue to put it into bitcoin,” Lee noted.
MicroStrategy has no doubt achieved a significant feat in the crypto industry as the company is so far the largest corporate holder of bitcoin.
