World’s Largest Bitcoin Holding Company
Since September last year, the firm has invested $2.186 billion in Bitcoin using its cash balance and raising debt.
MicroStrategy’s CEO Micheal Saylor shared the SEC 8-K filing report, informing the shareholders about their investment decision.
MicroStrategy has purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average price of ~$45,710 per #bitcoin. As of 3/1/2021, we #hodl ~90,859 bitcoins acquired for ~$2.186 billion at an average price of ~$24,063 per bitcoin. $MSTRhttps://t.co/fGH5KacsPI
— Michael Saylor (@michael_saylor) March 1, 2021
This year the company has made four Bitcoin purchases—two $10 million buys in January and early February, followed by the billion-dollar purchase from new debt and the company’s cash balance, and the lastest $15 million purchase at another dip.
The business analytics’ firm strategy is apparent: Buy every possible correction in Bitcoin.
MSTR stock index was up 2.57% on a daily scale at press time, trading at $750.
Bitcoin was changing hands at $48,315.
Disclosure: The author held Bitcoin at the time of press.