Business analytics firm MicroStrategy has acquired 13,005 Bitcoin (BTC), CEO Michael Saylor said in a tweet today. The firm now holds over 105,000 Bitcoin in total as a result.
“MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin,” tweeted Saylor, adding: “As of 6/21/21 we #hodl ~105,085 bitcoins acquired for ~$2.741 billion at an average price of ~$26,080 per bitcoin.”
MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin. As of 6/21/21 we #hodl ~105,085 bitcoins acquired for ~$2.741 billion at an average price of ~$26,080 per bitcoin. $MSTRhttps://t.co/gLfnOxZEZc
— Michael Saylor (@michael_saylor) June 21, 2021
The move comes after MicroStrategy announced the issue of $400 million in a convertible note earlier this month, with all proceeds set to be reinvested in Bitcoin. The note was oversubscribed by over $100 million, ballooning to a total of $500 million meant for Bitcoin.
92,000 BTC is now held in the custody of a subsidiary company called ‘MacroStrategy LLC.’ As such, the notes will be fully and unconditionally guaranteed on a senior secured basis, with all proceeds meant to be reinvested into Bitcoin.
Founded as a business analytics company, MicroStrategy now lists its Bitcoin purchases as one of two ‘core’ business strategies.
“Acquire and hold bitcoin, which we view as a dependable store of value supported by a robust, public, open-source architecture untethered to sovereign monetary policy,” the company says, as per a press release today.
Meanwhile, the Bitcoin buying spree isn’t finished yet. As CryptoSlate reported earlier this month, MicroStrategy is interested in selling over $1 billion of stock and using the proceeds for ‘general purposes’—one of which could include buying even more Bitcoin.
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