MicroStrategy Buys Another BTC 5,050, Holds USD 5.1B of Bitcoin
The US-based publicly traded software company MicroStrategy, led by the prominent bitcoin (BTC) bull Michael Saylor, announced today that it has purchased an additional BTC 5,050 at an average price of USD 48,099.
As usual, the bitcoin purchase was publicized by Saylor via his Twitter account, where he also said that the company now holds a total of BTC 114,042 purchased at an average price of USD 27,713.
MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7— Michael Saylor⚡️ (@saylor) September 13, 2021
MicroStrategy’s massive bitcoin holdings now means that the company owns bitcoin worth over USD 5.1b.
Following MicroStrategy’s announcement of the latest purchase, the popular bitcoin on-chain analyst Willy Woo published an updated version of his chart of bitcoin held by public companies. The chart shows MicroStrategy clearly leading the pack, followed by electric carmaker Tesla, Mike Novogratz’s investment firm Galaxy Digital, and Jack Dorsey’s payments company Square.
In a follow-up tweet, Woo also offered his take on MicroStrategy’s massive bitcoin holding, saying that he believes many other companies use MicroStrategy to get exposure to bitcoin without having to buy the asset itself.
“In case people wonder why MicroStrategy is such a large holder. I think public companies find it easier to buy a convertible debt instrument from MicroStrategy to gain BTC exposure than to hold the underlying asset. IMO MicroStrategy hold BTC for many companies,” the on-chain analyst wrote.
The numbers are bigger, but the strategy is the same – dollar cost average and hold. https://t.co/cDGEYHrWXY— The Wolf Of All Streets (@scottmelker) September 13, 2021
Well you can’t fault his commitment. He’s either going to end up the richest man in the world or a laughing stock. Same as the rest of us really. Only more so. https://t.co/DS07sUdOrX— Dominic Frisby (@DominicFrisby) September 13, 2021
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