Cryptocurrency

Microstrategy Acquires Additional $242 Million Worth of Bitcoin

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.

Michael Saylor

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.

MicroStrategy

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.

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