Corporate Firm Microstrategy Invests Another $414 Million in Bitcoin
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A regulatory filing on Monday revealed that Microstrategy has purchased another 7,002 Bitcoin for $414.4 million
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The corporate firm now holds about 121,044 BTC purchased for $3.6 billion, at an average price of $29,534 per coin
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At the moment, Bitcoin is down more than 17% from its all-time high of $69,000 but it remains 94% up for the year
Analysis software manufacturer Microstrategy has disclosed that it has added to its Bitcoin investment.
According to a filing to the Securities and Exchange Commission, 7,002 bitcoins have been purchased in the fourth quarter.
The company purchased the coins for a price of $414 million, taking its total holding of the flagship cryptocurrency to 121,044 tokens.
The coins were purchased at an average price of $59,187 during a period when the coin rallied and fell back.
According to data from CoinMarketCap, BTC is at $56,500 17% below its all-time high of 69,000 which was attained on November 10.
Despite the sharp movement prices of the cryptocurrency, Microstrategy CEO Michael Saylor has stated that the company will keep increasing its stockpile.
The tech company purchased its total coins at an average price of $29,534, which means that everything cost $3.57 billion.
Its Bitcoin holding is however worth $6.89 billion, which means that almost 50% profit has been made from the cryptocurrency investment.
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