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MicroStrategy spends $82.4 million in cash to buy even more bitcoin


www.theblock.co 09 December 2021 10:35, UTC
Reading time: ~2 m

MicroStrategy has spent $82 million to acquire 1,434 bitcoin, the company announced on Thursday.

According to a Form 8-K filing with the United States Securities and Exchange Commission, the latest MicroStrategy bitcoin purchase occurred between November 29 and December 8.

The purchase came at an average cost of $57,477 per bitcoin and follows the $414 million purchase announced last month.

The business intelligence outfit now owns 122,478 bitcoin, as of December 8. MicroStrategy has spent $3.66 billion on its bitcoin treasury holdings at an average cost of $29,861.

The company remains the largest corporate holder of bitcoin with a stash worth north of $6 billion at current prices. The company first announced its decision to begin holding bitcoin on its balance sheet in August 2020.

Since that August 2020 announcement, MicroStrategy has routinely added to its bitcoin position with CEO Michael Saylor becoming a prominent advocate for the largest cryptocurrency by market capitalization.


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