Business MicroStrategy Buys Another $94.2M of Bitcoin

As of Dec. 29, the company held about 124,391 bitcoins purchased at an average price of $30,159.

MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that’s taken to accumulating bitcoin, said it bought 1,914 bitcoins between Dec. 9 and Dec. 29 for about $94.2 million in cash.

The company paid an average price of $49,229 per bitcoin, it said in a statement.

As of Dec. 29, MicroStrategy held about 124,391 bitcoins purchased at an average price of $30,159. Bitcoin is currently trading about $47,500, valuing the trove at $5.9 billion. The company has a market cap of $6.1 billion, according to Bloomberg data.

MicroStrategy raised funds for the purchase by selling shares.

In the third quarter, the company added almost 9,000 bitcoin to its holdings, an average of 3,000 a month.

CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company.

Adds total value of MicroStrategy’s holding, market cap in second bullet, share sale in third.

source: coin-desk