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| MicroStrategy purchases over $ 1 billion in Bitcoin |
MicroStrategy Corporation today announced the purchase of more than $ 1 billion Bitcoin within days of the completion of the sale of other convertible bonds.
The enterprise software company said the average price was $ 52,765 per bitcoin, including fees and other costs.
After acquiring approximately 19,452 BTC, the total number of cryptocurrencies held by MicroStrategy is 90,531 BTC.
MicroStrategy first bought Bitcoin in August and used the balance sheet liquidity to obtain cryptocurrency.
The company has since submitted two convertible bond offers to raise funds to fund additional purchases.
The latest takeover bid closed last week and generated a net income of $ 1.03 billion.
MicroStrategy's buying news comes from the bitcoin price, which surpassed $ 50,000 on Wednesday, although it later fell below that level.
Previously, Square reported that the company had purchased $ 170 million worth of cryptocurrencies.
MicroStrategy said Wednesday: The average buy price of all Bitcoin purchases is $ 23,985.
He spent $ 2.171 billion on bitcoin and based on the bitcoin price Wednesday morning, the company has nearly $ 4.5 billion in stock.
MicroStrategy's share price has increased since the company announced its first bitcoin purchase in August. When some investors bought stocks to buy the cryptocurrency, the share price rose by more than 400%.
Michael Saylor, CEO of MicroStrategy, has become a major supporter of Bitcoin and encourages other companies to buy digital currencies as an investment.
He said, "I think Bitcoin's market value could one day reach $ 100 trillion."
MicroStrategy said: The company continues to focus on its business strategy to grow its business analysis software business and acquire and retain Bitcoin.
With over 90,000 Bitcoins, this is once again a testament to our conviction that Bitcoin, as the world's most popular cryptocurrency, can be a reliable store of value.