MicroStrategy Spends Another USD 177M on Bitcoin

The first publicly-traded company to put bitcoin (BTC) on its balance sheet as a primary treasury reserve asset, US-based software intelligence firm MicroStrategy, announced yet another purchase of bitcoin.

This time, the company acquired BTC 3,907 for approximately USD 177m in cash at an average price of USD 45,294 per bitcoin, the company said in a statement.

According to the company’s founder and CEO, bitcoin bull Michael Saylor, the company now holds BTC 108,992 (purchased for c. USD 2.918bn) on its balance sheet.

This amount was acquired for an average price of USD 26,769 per bitcoin. However, at pixel time (UTC 12:40), the entire company’s stash is now worth around USD 5.36bn.

MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin. $MSTRhttps://t.co/8jUlJImJbO

— Michael Saylor⚡️ (@michael_saylor) August 24, 2021

In some of the latest public remarks concerning their Bitcoin strategy, MicroStrategy affirmed that it has no specific target for their BTC holdings and they plan to continue raising money for buying bitcoin.

“We view our bitcoin holdings as long-term holdings, and we do not plan to engage in regular trading of bitcoin and have not hedged or otherwise entered into derivative contracts with respect to our bitcoin holdings,” the company said in June.

A constantly updated list of companies holding bitcoin as a reserve asset can be found here.

BTC is currently trading at USD 49,195. It’s down 2% in a day and up 6.8% in a week.

(Photo: Microstrategy)