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MicroStrategy Spends Another USD 400M on Bitcoin


Source: AdobeStock / JorgeEduardo

Michael Saylor, the CEO of the US-listed software firm MicroStrategy, has announced that his company has purchased an additional BTC 7,002. The purchase marks yet another addition to the company’s already massive bitcoin holdings.

The announcement was made by Saylor on Twitter Monday morning US time, with the CEO saying the purchase is worth some USD 414m.

In the tweet, Saylor said that MicroStrategy now holds BTC 121,044, acquired for about USD 3.57bn, and with an average purchase price of USD 29,534.

As of 13:12 UTC, the new purchase announcement from MicroStrategy appears to have given some support to the bitcoin price, although the impact so far has been limited. BTC traded at USD 57,174 at press time, up by 1.5% during the 15 minutes since the announcement.
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