Claim $500Breaking: Microstrategy Buys Additional 3,907 Bitcoin at $177 Million in Cash
Microstrategy revealed an additional purchase of 3,907 Bitcoin acquired at $177 million in cash. The Fortune 500 company acquired their latest lot of BTC at an average price of $45,294 apiece. MicroStrategy now holds a total of 108,992 Bitcoins bought at $26,769 apiece.
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
MicroStrategy has invested a total of $2.918 billion towards Bitcoin and seems to have no plans of stopping anytime soon. The software infrastructure provider was among the first Fortune 500 companies to replace US Dollar in its treasury with Bitcoin. There was a lot of pressure on the firm to sell some of their BTC holdings during the May dip when the price of BTC went below $29,000 on a couple of occasions. However, the CEO of the company Michael Saylor has maintained throughout that there is no question of selling.
The publically traded company started investing in Bitcoin in August last year when the BTC price was trading just above $10K and since then has bought the top cryptocurrency on numerous occasions. The firm has also raised nearly $1.65 billion through security debt offerings in the form of the company’s senior convertible notes.
Can MicroStrategy’s Latest Purchase Help the Bitcoin Bulls?
Bitcoin price has fallen below key $50K support yesterday, as the crypto market readies for the second leg of the bull run, MicroStrategy’s latest purchase could help the bull case of Bitcoin. The top cryptocurrency has already seen a 74% surge over the past month and the next target would be to retest its ATH at $64,683 after conquering $50K support.
MicroStrategy is joined by several publically traded companies that have added Bitcoin to their balance sheet. The institutional demand for the top cryptocurrency is at an all-time high where the likes of BlackRock, Fidelity, Goldman Sachs, and JP Morgan have started offering Bitcoin investment options to their clients.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitcoin Crash Risk Mounts As Peter Brandt Points to 80% Declines in Every Major Cycle
- Bitcoin Whale Doubles Down on BTC, ETH, SOL Short Positions, $243M at Stake
- IMF and El Salvador in Bitcoin Talks: Progress Made, Compliance Deadline Set
- Trump Media Invests $40M in Bitcoin as Incoming CFTC Chair Signals Crypto Clarity Act Push in January
- Aave DAO Saga Deepens as Alignment Proposal Moves to Snapshot; AAVE Price Down 7%
- Bitcoin Price Prediction As Michael Saylor Pauses BTC Purchase- Is A Fall to $74k Imminent?
- Aster launched Phase 5 Buyback Program Allocating 80% Fees. Will ASTER Price Rally?
- XRP Price Prediction: Rare Bullish Patterns Align With Powerful Catalysts
- Weekly Crypto Price Prediction: Bitcoin, Ethereum, and XRP as Market Momentum Builds
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
