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    Home » Crypto News » MicroStrategy Completes Another $1 Billion Bitcoin Buy

    MicroStrategy Completes Another $1 Billion Bitcoin Buy

    Author: George Georgiev

    Last Updated Feb 24, 2021 @ 13:20

    The company spearheaded by Michael Saylor, MicroStrategy, has completed another $1 billion Bitcoin buy.

    MicroStrategy, the company, spearheaded by one of Bitcoin’s biggest proponents, MicroStrategy, has just confirmed the purchase of another 19,452 BTC.

    • In an announcement published today, February 24th, MicroStrategy, the largest independent publicly-traded business intelligence company, has revealed the purchase of 19,452 bitcoins.
    • The company paid approximately $1,026 billion in cash for the BTC.
    • The average price at which MicroStrategy executed the trades is approximately $52,765 per coin, which includes the expenses and fees.
    • With this, the company now sits on approximately 90,531 bitcoins, currently worth just shy of $4.6 billion.
    • This equates to 0.43% of the total supply of Bitcoin that will ever be in circulation.

    Speaking on the matter, Saylor said:

    The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin. […] The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value. 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.

    • The move was somewhat expected. As CryptoPotato reported earlier in February, the company revealed its price to offer convertible senior notes to raise money and buy Bitcoin.
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    Tags: Bitcoin Michael Saylor MicroStrategy
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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