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MicroStrategy Buys 5,050 More Bitcoins
The business-intelligence software company said it owned 114,042 bitcoins as of Sept 12.
CORRECTION (Sept. 13: 16:10 UTC): An earlier version of this article incorrectly stated that the current value of MicroStrategy’s bitcoin holdings was $3.16 billion. That amount is actually $5.1 billion.
MicroStrategy said Monday it bought about additional 5,050 bitcoins. The business-intelligence software company now holds 114,042 bitcoins, which were acquired for a total of $3.16 billion and at an average price of $27,713 per bitcoin. At current prices, the total value of MicroStrategy’s bitcoin holdings are worth about $5.1 billion.
STORY CONTINUES BELOW
- Nasdaq-listed MicroStrategy said it had purchased about 8,957 bitcoins for $419.9 million in cash during the third quarter between July 1 and Sunday. In August, the company disclosed that it had bought 3,907 bitcoins at an average price of about $45,294 per coin.
- CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company. Its other business is developing business-intelligence software.
- MicroStrategy owns so much bitcoin that some investors use it as a proxy for investing in the cryptocurrency. Shares have sunk from a high of $1,273 in March to $616 on Monday morning.
UPDATE (Sept. 13, 13:26 UTC): Updated with information about MicroStrategy’s August purchase of bitcoin, and additional background in the third bullet point.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
