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MicroStrategy Bought Additional 29,646 Bitcoins Worth $650 Million



MicroStrategy Bought Additional 29,646 Bitcoins Worth $650 Million

On Dec 21st, MicroStrategy announces purchase of additional 29,646 bitcoins for approximately $650.0 million. It had purchased additional Bitcoin in accordance with its Treasury Reserve Policy with at an average price of $21,925 per bitcoin, inclusive of fees and expenses.

Now as per the official report the company holds an aggregate of approximately 70,470 bitcoins. The total aggregate purchase price now reaches $1.125 billion with an average purchase price of approximately $15,964 per bitcoin.

Michael J. Saylor, CEO, MicroStrategy Incorporated said, “The Company continues to operate in accordance with its Treasury Reserve Policy and currently holds approximately 70,470 bitcoins.”

“The acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value.  We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price.”

“The Company continues to believe bitcoin will provide the opportunity for better returns and preserve the value of our capital over time compared to holding cash.  We also remain dedicated to our customers and our goal of operating a growing profitable business intelligence company,” said Phong Le, President & CFO, MicroStrategy Incorporated. 

At press time Bitcoin is trading at $22,696.55 USD (-3.06%) with market cap of $421,639,709,624 USD. The dominance of BTC in the whole cryptocurrency market is 66.2%.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.