Nasdaq-listed business intelligence firm MicroStrategy has just purchased 19,452 BTC worth over $1 billion. The company, which started its Bitcoin acquisition in August 2020, now owns a total of 90,531 BTC.
MicroStrategy announced its most recent Bitcoin acquisition on the 24th of February. As stated in the announcement, each coin was bought at about $52,765.
According to the company’s CEO Michael Saylor, MicroStrategy is focused on two corporate strategies. He said that the company is looking to grow its enterprise analytics software business and also continue its BTC acquisition.
Speaking further, Saylor noted that MicroStrategy’s continuous BTC investment shows its belief in Bitcoin as the world’s most adopted digital asset and a store of value. He added:
“We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase additional Bitcoin.”
Phong Le, Microstrategy’s president and CFO also commented on the recent acquisition. Le stated that MicroStrategy’s Bitcoin investment complements the company’s software business. He said the Bitcoin strategy helps to create awareness for its business.
With a market capitalization of over $930 billion, Bitcoin is currently up 5.61% to $49,831.24.
Image Credits: Pixabay
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