MicroStrategy buys Bitcoin for another US$650 million

MicroStrategy has used the setback in the bitcoin price to make another multi-million dollar BTC investment.

Michael Saylor isn’t getting fed up. Just a short while after the MicroStrategy CEO took to Twitter to advise Elon Musk on BTC investments, Saylor pulls another multi-million dollar Bitcoin investment out of his hat.

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As can be seen from the tweet, the Nasdaq-listed software company has added another 29,646 bitcoin to its shopping list for the equivalent of $650 million.

MicroStrategy has purchased an additional 29,646 bitcoins for $650 million at an average price of $21,925 per #bitcoin and now #hodl an aggregate of 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin.https://t.co/j6wVLXIzoa

– Michael Saylor (@michael_saylor) December 21, 2020
This brings the total bitcoin assets to 70,470 BTC. With an average purchase Bitcoin Machine price of 15,964 US dollars, the investment has already more than paid off. In total, the company has invested 1.125 billion US dollars in digital gold in recent weeks and months. Thanks to the bull run, the investment has already risen to 1.629 billion US dollars at the current exchange rate: an increase in value of 500 million US dollars.

According to bitcointreasuries.org, the company thus holds around 0.194 per cent of the total BTC in circulation. It is possible that MicroStrategy has already found a potential imitator in Tesla. In any case, the track record speaks for itself and could persuade one or two other listed companies to enter the BTC market.

Translated with www.DeepL.com/Translator (free version)