MicroStrategy Acquires Nearly 4,000 Bitcoin for $177 Million

The US-based NASDAQ-listed business intelligence company MicroStrategy continues with its bitcoin acquisition spree, as the company recently purchased over 3,900 BTC. Consequently, the firm now holds nearly 109,000 bitcoins in total.

  • Tweeting on Tuesday (August 24th, 2021), MicroStrategy CEO Michael Saylor revealed that the firm has added 3,907 bitcoin to its stash, bought at an average price of approximately $45,294 per BTC.
  • According to Saylor, the bitcoin accumulated by the business intelligence giant cost approximately $177 million. The CEO said that the fund was gotten from proceeds made from ATM facility sales.
  • Subsequently, the current purchase brings the total number of BTC held by MicroStrategy to 108,992.
  • The latest development is a testament to Michael Saylor’s bullishness towards the flagship cryptocurrency. Back in July, the company’s founder and chief executive officer noted that his firm was going to acquire more bitcoin despite the impairment loss recorded in Q2 2021.
  • Also, Saylor earlier said that he will not be pressured to sell his personal bitcoin or the company’s BTC stash, even if the value of the cryptocurrency plummets.