MicroStrategy, the largest publicly traded independent business intelligence firm, announced today that it has purchased 19,452 Bitcoins at an average price of $ 52,765 for approximately $ 1.026 billion in cash.
MicroStrategy bought 19,452 Bitcoins, according to a February 24 press release. The company’s CEO, Michael Saylor, said in a statement that Bitcoin continues to be corporate strategies:
“The company is focused on our two corporate strategies for growing our enterprise analytics software business and acquiring and holding Bitcoin.”
As of February 24, 2021, the Company has approximately 90,531 Bitcoins with a total purchase of $ 2,171 billion, including fees and expenses, and an average price of approximately $ 23,985 per Bitcoin. MicroStrategy is expected to continue pursuing its Bitcoin strategy:
“The company currently holds more than 90,000 Bitcoins and reaffirms our belief that Bitcoin, the world’s most widely used cryptocurrency, can serve as a reliable store of value. We will continue to pursue our strategy of acquiring Bitcoins with excess cash, and from time to time, subject to market conditions, we may issue debt or stocks in capital raises to use the proceeds to purchase additional Bitcoins. ”
Last week, MicroStrategy completed its second $ 1.03 billion convertible bond offer, which it launched to buy Bitcoin. The first bond sale of 650 million dollars was made in December. The company is one of the leading names in the crypto industry.