MicroStrategy adds another $1.02 billion worth of bitcoin to its balance sheet
The publicly-traded company MicroStrategy now owns just over 90,000 BTC after spending approximately $1.026 billion to purchase 19,452 BTC, according to a Wednesday announcement.
In a statement, MicroStrategy said that it “purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, inclusive of fees and expenses.”
MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTRhttps://t.co/FbsRYhXEhn
— Michael Saylor (@michael_saylor) February 24, 2021
The move comes days after the firm raised roughly that amount in U.S. dollars to fuel additional purchases of bitcoin, as previously reported. MicroStrategy has consistently added to its bitcoin supply since last August as part of its treasury management strategy.
Late last month, MicroStrategy indicated in its Q4 2020 financial results that it would explore “various approaches” to obtaining additional BTC.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Go to Source
Author: Michael McSweeney
