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Cryptocurrency

MicroStrategy Buys $177M Bitcoin as the Company Now Holds $2.34B in Crypto

MicroStrategy Buys $177M Bitcoin as the Company Now Holds $2.34B in Crypto

  • MicroStrategy has announced the purchase of 3,907 bitcoins for $177 million at an average price of $45,294
  • The CEO of the company Michael Saylor announced this on Tuesday, disclosing that the company now holds 109,000 BTC
  • The company has so far made a profit of $2.34 billion on its Bitcoin investment as its total holding is worth $5.26 billion

Bitcoin enthusiast Michael Saylor has announced that his company Microstrategy has purchased 3,907 bitcoins.

The company purchased the coins at an average price of $45,294 per BTC.

Saylor disclosed that as of Monday, the company owns 109,000 BTC purchased for $2.918 billion.

The company’s Bitcoin holdings are now worth nearly $5.26 billion with a profit of $2.34 billion.

MicroStrategy has been clear on its objectives, tunnelling a huge part of its capital into the flagship cryptocurrency.

Read also: Nigeria Leads as sub-Saharan Africa Edges Forward in Bitcoin Trading

The company has benefitted greatly from this investment as the market cap surged to $6.77 billion.

MicroStrategy

MicroStrategy is believed to be among the entities with the largest holding of the world’s number one cryptocurrency which is trading at $47,000.

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