Software firm MicroStrategy, the world’s largest corporate Bitcoin holder, purchased an additional 5,050 Bitcoins for US$242.9 million at an average price of US$48,099 per Bitcoin.
- Bitcoin was trading 3% lower on Monday, the day of the purchase, at around US$44, 800. The purchase puts MicroStrategy’s total Bitcoin holdings at 114,042 Bitcoins acquired for around US$3.16 billion.
- According to MicroStrategy’s SEC filings, the Nasdaq-listed firm purchased approximately 8,957 Bitcoins in the third quarter of 2021, at an average price of around US$46,875 per Bitcoin.
- MicroStrategy’s CEO Michael Saylor tweeted recently that the company avoided a “multi-billion dollar mistake” by investing in BTC instead of gold.
- MicroStrategy is a Virginia-based business intelligence, mobile software and cloud-based services company founded in 1989. Since the company announced its first Bitcoin purchase on Aug. 11, 2020, MicroStrategy’s share prices have ballooned more than 350% to date. The company plans to continue buying Bitcoin despite cumulative impairment losses of US$689.6 million since acquisition in Q2 2021 — these are paper losses, or losses that are yet to be realized.