Home Cryptocurrency Microstrategy Purchases $15M Worth of Bitcoin, Firm’s Stash Jumps to 91,579 BTC – Finance Bitcoin News

Microstrategy Purchases $15M Worth of Bitcoin, Firm’s Stash Jumps to 91,579 BTC – Finance Bitcoin News

by Gordon James

The publicly traded company Microstrategy has acquired more bitcoins, according to a tweet from Michael Saylor, the company’s CEO, and a recent filing with the Securities and Exchange Commission (SEC). The company has spent $15 million in cash and currently has 91,579 bitcoins in its reserves.

Company microstrategy continues to stack bitcoins

Month after month, Microstrategy continues to buy bitcoins (BTC) and add them to the company’s balance sheet. On Monday, the company announced another BTC purchase by notifying the SEC via a Form 8-K that it had purchased 253 bitcoins for $15 million in cash.

Filing with the Securities and Exchange Commission :

The 5th. In April 2021, MicroStrategy Incorporated announced that it had acquired approximately 253 bitcoins for $15 million in cash, at an average price of approximately $59,339 per bitcoin, including fees and expenses. From 5 years old. As of April 2021, the company owns approximately 91,579 bitcoins that were purchased for a total purchase price of $2.226 billion and an average purchase price of $24,311 per bitcoin, including fees and expenses.

About half a billion more to buy to exceed the 100K bitcoin stamp

The business intelligence (BI) company still has 8,421 bitcoins in storage to cross the 100,000 BTC mark. At the current BTC price, that means the company would have to spend another $496 million in bitcoins to reach that amount.

In addition to large bitcoin funds like GBTC and several other organizations, Microstrategy is a publicly traded company that has one of the largest caches of BTC to date.

The web portal bitcointreasuries.org shows a large number of companies that currently have bitcoins on their balance sheets. With the recent purchase of Microstrategy, the site reports that 1,373,294 BTC are owned by companies and businesses. At 1.3 million. BTC represents 6.54% of total BTC shipments.

Of the 21 million bitcoins, Microstrategy owns 0.436% of the total supply, and that share is now worth 2.4 times the purchase price of $5.4 billion. The listed electric car company has about 48,000 BTC, or about half of what Microstrategy has on its balance sheet.

After Michael Saylor, CEO of Microstrategy, announced the purchase on Twitter, there was a lot of reaction to the tweet.

The man is punctual, one person said. You will need to increase your dose of orange tablets again.

What do you think about Microstrategy continuing to buy bitcoins by announcing another $15 million on Monday? Let us know what you think in the comments below.

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