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MicroStrategy purchases another $94.2 million Bitcoin

Updated: Aug 31, 2024
Published: Dec 30, 2021
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MicroStrategy, the business intelligence software company announced it bought 1,914 BTC between Dec. 9 and Dec. 29.

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Microstrategy purchases more Bitcoin

The company has paid about $94.2 million in cash at an average price of $49,229 per Bitcoin, the company said in a statement. As of Dec. 29, MicroStrategy owned 124,391 BTC which it had purchased at an average price of $30,159. Bitcoin currently trades for about $47,500, worth $5.9 billion. According to Bloomberg, the company has a market value of $6.1 billion.

The timing suggests that MicroStrategy continued its purchases after announcing an accumulation of 1,434 BTC between Nov. 29 and Dec. 8. MicroStrategy is also looking for ways to "generate yield" via its Bitcoin holdings. CEO Michael Saylor said during an investor presentation earlier this month that there is a possibility of lending out some of the holdings.

Other companies that have purchased Bitcoin

Other companies also decided to purchase Bitcoin this year. This included companies like Tesla, Square, Aker, and Meitu, which announced Bitcoin holdings that number in the thousands. This suggests that there has been an increase in interest from companies to hold digital assets like BTC on their balance sheets.

However, this trend proved short-lived as reports of BTC purchases soon died down. Only MicroStrategy continued to buy digital assets and publicly disclosed them. The company has been steadily adding to its Bitcoin holdings during the entire year.

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