Business intelligence company, MicroStrategy Inc., is still purchasing Bitcoin, recently adding 328 bitcoins to its portfolio. So far, MicroStrategy now has 90,859 BTC.
The purchase was announced on the 1st of March by MicroStrategy CEO, Chairman, and Co-Founder, Michael Saylor. According to Saylor, MicroStrategy bought 328 bitcoins for ~$15 million in cash, at an average price of about $45,710 per Bitcoin. Saylor’s tweet reveals that MicroStrategy’s total 90,859 BTC portfolio was acquired for about $2.186 billion, averaging about $24,063 per bitcoin.
Shortly after the announcement, TradingView data showed that bitcoin climbed to $48,521, cementing an intraday high. Current CoinMarketCap data reveals that bitcoin has risen by 10% in the last 24 hours and is trading at $48,362. However, the king coin has lost more than 8% in the last seven days.
On the 24th of February, the Nasdaq-listed company announced that it bought 19,452 BTC, worth more than $1 billion. The purchase valued each coin at an average of $52,765 and pushed the company’s total holdings to 90,531 BTC. At the time, Saylor said that the continuous acquisition of bitcoin is one of two major strategies the company is focused on.
The CEO also said that the acquisition would be funded with excess cash. However, he added that considering market conditions, MicroStrategy could issue debt or equity securities to use proceeds for more purchases.
Image Credits: Pixabay
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