coinspress.com
MicroStrategy, a business intelligence firm based in Virginia, has acquired 27,200 Bitcoins for $2.03 billion, according to a press release issued on Monday.
The purchase was made at an average price of $74,463 per coin, funded through an at-the-market (ATM) equity offering. With this latest acquisition, MicroStrategy’s total Bitcoin holdings have now reached nearly $23 billion, with an average purchase price of approximately $43,000.
Despite Bitcoin reaching a new all-time high of over $84,000, showing a 20% rise over the past week, the cryptocurrency didn’t react significantly to MicroStrategy’s latest purchase.
READ MORE: MicroStrategy’s Bitcoin Bet Pays Off: Should Other S&P 500 Companies Follow Suit?
MicroStrategy’s market capitalization has surged to nearly $55 billion, making it the 373rd largest company globally, surpassing firms like Volvo, Barclays, and Volkswagen.
The company has also revealed plans to raise up to $42 billion in the long term to continue funding its Bitcoin acquisitions. MicroStrategy’s co-founder, Michael Saylor, has speculated that national governments could eventually adopt Bitcoin as a reserve asset and believes the cryptocurrency could reach as high as $13 million per coin in the future.