Michael Saylor’s business intelligence giant has kept its promise to allocate additional funds in the primary cryptocurrency. MicroStrategy announced on Friday that it had added another chunk of 262 bitcoins to its sizeable stack of over 91,000 tokens.
- The company’s founder and CEO, Michael Saylor, took it to Twitter on Friday to inform of the firm’s latest BTC acquisition. After a few consecutive weeks of purchasing chunks worth $10 million each, this time MicroStrategy upped its game and allocated $15 million.
- With an average price of 57,146, the latest purchase brought 262 bitcoins. Consequently, the company’s stack has grown to 91,326 tokens. The average price of all entries is $24,214.
- In other words, MicroStrategy has allocated $2.2 billion of its own money into bitcoin since its first purchase in August 2020. The growth of BTC’s price since then means that the coins the company holds are now worth north of $5.1 billion.
- Apart from using every opportunity to buy more bitcoins, Saylor and his company have found additional ways to promote the primary cryptocurrency.
- MicroStrategy became a full node on the Bitcoin network last year and made the cryptocurrency its primary treasury reserve asset shortly after.
- Separately, the firm held a “Bitcoin for Corporations” panel in February this year when it hosted thousands of executives to educate them on the potential benefits of investing in BTC.
- The company didn’t stop there as it launched a similar initiative aimed at retail investors. Called “Bitcoin for everybody,” the program is available on the Saylor Academy platform and is 100% free of charge.