CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$27,006.00
  • ethereum
    ETH$1,887.55
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » NASDAQ-Listed MicroStrategy Buys $175 Million More Worth Of Bitcoin

    NASDAQ-Listed MicroStrategy Buys $175 Million More Worth Of Bitcoin

    Author: Jordan Lyanchev

    Last Updated Sep 15, 2020 @ 13:58

    After buying $250 million worth of Bitcoin a month ago, MicroStrategy has made another purchase of $175 million. The company now owns 0.18% of all bitcoins to ever exist.

    The NASDAQ-listed company providing business intelligence and mobile software MicroStrategy has added $175 million worth of Bitcoin to its portfolio. The addition comes just a month after the firm purchased $250 million of the primary cryptocurrency.

    MicroStrategy Doubles Down On Its Bitcoin Accumulation

    As CryptoPotato reported a month ago, the Virginia-headquartered company developing software to analyze internal and external data for making better business decisions purchased 21,454 bitcoins worth $250 million.

    This was part of MicroStrategy’s two-way capital allocation strategy, which saw the firm also buying $250 million worth of stocks. At that point, company CEO and founder Michael Saylor said that Bitcoin’s unique qualities make the asset a hedge against inflation and brought up Bitcoin’s impressive ROI over the past decade.

    On September 11th, MicroStrategy said in a filing to the Securities and Exchange Commission (SEC) that it’s planning to purchase more of the primary cryptocurrency.

    Earlier today, Saylor confirmed that his company had bought 16,796 more bitcoins (worth $175 million). Consequently, MicroStrategy’s portfolio now consists of 38,250 bitcoins at an “aggregate purchase price of $425 million, inclusive of fees and expenses.”

    ADVERTISEMENT

    On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.

    — Michael Saylor (@michael_saylor) September 15, 2020

    It’s worth noting that in a month, MicroStrategy has purchased nearly 0.2% of all bitcoins to ever exist as the cryptocurrency’s maximum supply is capped at 21 million coins.

    BTC As The Primary Treasury Reserve Asset

    In the filing with SEC, the company’s board of directors doubled-down on the narrative that Bitcoin serves as the firm’s “primary treasury reserve asset on an ongoing basis, subject to market conditions and anticipated needs of the business for Cash Assets, including future potential share repurchase activity.”

    Interestingly, MicroStrategy’s stocks (MSTR) have increased in value following Saylor’s confirmation. In the first few hours after Wall Street opened its trading doors today, MSTR has surged by 3.5% to $147.

    On a year-to-date scale, the company’s shares peaked at above $150 in February before plummeting to $90 during the COVID-19-enticed crisis. With today’s increase, MSTR is nearing its highest yearly point.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • MichaelSaylor
      MicroStrategy CEO Michael Saylor HODLs $230M Worth Of Bitcoin Privately
    • square_bitcoin_cover
      Jack Dorsey’s Square Buys $50 Million Worth of Bitcoin (BTC)
    • bitcoin_coinn
      MicroStrategy's $425 Million Worth of Bitcoin Purchase: What Was the Real Impact?
    Tags: Bitcoin NASDAQ Wall Street
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    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

  • bitcoin
    BTC$27,006.00
  • ethereum
    ETH$1,887.55
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!