The largest corporate holder of Bitcoin isn’t done buying. At least not yet. MicroStrategy announced Monday the purchase of an additional 5,050 bitcoins for $242.9 million in cash at an average price of $48,099 per BTC.
The latest purchase means that the company now holds 114,042 bitcoins acquired for a total cost of $3.16 billion. MicroStrategy’s average Bitcoin price is currently $27,713 per BTC. At current prices of around $44,800, the company’s Bitcoin holding is worth $5.1 billion, or over 60% unrealized profits.
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
Evidently, the latest purchase further reaffirms the company’s commitment to continue increasing its Bitcoin holdings, despite prevailing market circumstances. While the crypto market suffered a correction by the China exile of Bitcoin miners, MicroStrategy consistently acquired more Bitcoin, surpassing the 100K BTC milestone during the downturn.
MicroStrategy CEO, Michael Saylor has often reiterated that the company’s foray into Bitcoin is not a quick money grab, but something that would last for a long time. Saylor had also publicly disclosed in October that he personally holds over 17,732 BTC, acquired at an average price of $9,882.
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