MicroStrategy seems determined to accumulate as many bitcoins as possible.
Recently, MicroStrategy announced on its website that it has purchased another 1,045 bitcoins for about $29.3 million.
The purchase of an additional 1,045 bitcoins brought the total number of bitcoins MicroStrategy holds to 140,000 bitcoins, for a total purchase price of approximately $4.17 billion.
In the last week, this software company also spent 150 million USD to buy more bitcoin.
MicroStrategy’s average buy price is now $29,803/BTC. Bitcoin has been trading below this level since last June.
Consistent bitcoin purchases have helped MicroStrategy’s stock rise 105% year-to-date, while bitcoin is up more than 72%. The company’s stock is seen by some as a proxy for investing in bitcoin due to the company’s huge exposure to bitcoin. MicroStrategy holds the position as the technology company that hoards the most bitcoins in the world.
MicroStrategy CEO Michael Saylor said “my company bought bitcoin continuously when bitcoin was at $28,000. The purchases were made between March 24 and April 4.”
Previously, Saylor shared that his company seeks to make other sources of profit from bitcoin holdings, such as bitcoin lending.
See also: MicroStrategy confirms that it will continue to buy and hold Bitcoin for a long time
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