Business intelligence company MicroStrategy added $ 94 million worth of Bitcoin (BTC) to its holdings after purchasing the crypto-asset at an average price of $ 49,229.
According to a report filed Thursday with the US Securities and Exchange Commission, MicroStrategy bought 1,914 BTC for $ 94.2 million between December 9-29, making a total of 124,391 BTC. With the most recent purchase, the company’s stakes are valued at approximately $ 5.9 billion, which translates into more than $ 2.1 billion in profits.
MicroStrategy has an additional 1,914 bitcoins for ~ $ 94.2 million in cash at an average price of ~ $ 49,229 each. bought #bitcoin. From December 29th, 21 we have #hodl Purchased ~ 124,391 bitcoins for ~ $ 3.75 billion at an average price of ~ $ 30,159 per bitcoin. $ MSTRhttps://t.co/tNxDwaT8VD
– Michael Saylor⚡️ (@saylor) December 30, 2021
Since its initial $ 250 million investment in Bitcoin in August 2020, MicroStrategy has purchased more than $ 3.7 billion in BTC in separate purchases, with the company’s cash on top of that Sale of convertible bonds in the case of private offers to institutional buyers. However, there are cases when the business intelligence company does bought the dip, some purchases followed price spikes in early 2021 when the BTC price exceeded $ 50,000.
Related: Insiders sold MicroStrategy shares after Bitcoin’s bull run
The company’s most recent BTC purchase follows the price of the crypto asset drop below $ 46,000 on December 29th as it continues to show volatility before the new year. According to data from Cointelegraph Markets Pro, Bitcoin’s price is $ 47,226 at the time of posting, after falling more than 7% in the past 7 days.
