MicroStrategy Adds Another $15 Million Bitcoin
MicroStrategy continues apeing into Bitcoin with another additional purchase of 328 Bitcoin at an average price of $45,710.
World’s Largest Bitcoin Holding Company
The recent purchase puts MicroStrategy’s Bitcoin count to 90,859 BTC, worth $4.36 billion.
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’s most recent purchase on Feb. 24 of $1.026 billion Bitcoin was at a mean cost of $52,765 per coin.
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.
MicroStrategy has the largest Bitcoin treasury of all publicly-listed companies, nearly twice the amount held by Tesla Inc at second place with 48,000 BTC.
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.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article
