MicroStrategy , a Nasdaq-listed company, announcedthat it had purchased another 295 BTC for $10 million. According to the company, the total purchase cost was $33,810 per BTC. MicroStrategy now holds approximately 71,079 BTC. This is equal to $12.5 Billion at current prices.
MicroStrategy began purchasing large amounts of the king currency last year and has been bullish about BTC ever since. MicroStrategy made several purchases since its August 2020 initial purchase of BTC. Recently purchased more Bitcoins on January 22. The company also added 314 BTC to their portfolio, which was worth $10 million.
Michael Saylor, CEO of MicroStrategy, had previously revealed that BTC acquisitions were part of the MicroStrategy Treasury Reserve Policy.
According to the company’s financial reports for 2020 Q4, Saylor stated that MicroStrategy will continue to hold Bitcoin. As part of its “overall corporate strategy”, Saylor stated that MicroStrategy would look at other ways to grow its Bitcoin holdings.
In an interview last January, Saylor stated that Bitcoin was “the best money ever made.” He also said that the digital assets were similar to gold and the US dollar. MicroStrategy decided to invest heavily into Bitcoin because of their flaws.
BTC is up $4.23% at $35,692.20 as of press time.
