Microstrategy Acquires Additional $242 Million Worth of Bitcoin
Business intelligence company Microstrategy has acquired 5,050 BTC for a price of $242.9 million
The CEO of the corporate whale Michael Saylor confirmed the acquisition through his official Twitter account on Monday
The company now has a total of 114,042 BTC which was purchased for $3.16 billion but it is worth $5 billion in today’s market
Following the recent dip, Microstrategy has acquired 5,050 BTC for $242.9 million.
The CEO of the business intelligence company Michael Saylor confirmed the acquisition of the coins on Monday morning.
The announcement is coming only a few days after El Salvador announced that it had bought an additional 150 BTC after confirming Bitcoin as its legal tender.
According to the company’s 8-k filing, the coins were bought at an average price of $48,099.
In total, the company now owns 114,042 bitcoin which was purchased for an average price of $27,713 per bitcoin.
The coin was purchased for a price of approximately $3.16 billion but they are worth over $5 billion in today’s market.
This indicates that the company has gained 61% on its investment in the flagship cryptocurrency.