MicroStrategy continues with its frequent bitcoin purchases, with another one worth $25 million.
The NASDAQ-listed business intelligence giant has stayed true to its word to acquire more bitcoins no matter the market conditions. The firm’s CEO announced the latest purchase worth $25 million.
Michael Saylor took it to Twitter to outline the latest acquisition made by the company, in which it spent $25 million to buy 660 bitcoins. This meant that the average price of the transaction was $37,865.
It’s worth noting that this purchase came at the end of January as its total stash exceeded 125,000 as of the end of that month.
As of now, the firm has spent $3.78 billion to acquire its bitcoin pile at an average price of $30,200 per coin.
The previous purchase came in late December when MicroStrategy spent $94 million to buy 1,914 BTC.
Although the price of the asset is more than $10,000 lower than it was a month ago, the company’s executives continue to display a pro-bitcoin approach.
Apart from Saylor, who is a well-known bitcoin bull, MicroStrategy’s CFO – Phong Le – also asserted that the firm will keep buying and holding BTC no matter what happens in the market in terms of price action.
Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn