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MicroStrategy Buys Another $94.2M of Bitcoin
As of Dec. 29, the company held about 124,391 bitcoins purchased at an average price of $30,159.
MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that’s taken to accumulating bitcoin, said it bought 1,914 bitcoins between Dec. 9 and Dec. 29 for about $94.2 million in cash.
- The company paid an average price of $49,229 per bitcoin, it said in a statement.
- As of Dec. 29, MicroStrategy held about 124,391 bitcoins purchased at an average price of $30,159. Bitcoin is currently trading about $47,500, valuing the trove at $5.9 billion. The company has a market cap of $6.1 billion, according to Bloomberg data.
- MicroStrategy raised funds for the purchase by selling shares.
- In the third quarter, the company added almost 9,000 bitcoin to its holdings, an average of 3,000 a month.
- CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company.
UPDATE (Dec. 30, 13:28 UTC): Adds total value of MicroStrategy’s holding, market cap in second bullet, share sale in third.
STORY CONTINUES BELOW
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
