Nasdaq-listed business intelligence firm MicroStrategy added nearly 9,000 BTC to its corporate balance sheet last quarter, bringing the company’s total BTC holdings to 114,042 coins, worth over $7 billion.
According to the firm’s Q3 financial results, the firm spent a total of $3.16 billion purchasing the BTC it owns at an average price of approximately $27,713 per coin. The firm first started investing in bitcoin last year with a $425 million purchase.
By the end of 2020, MicroStrategy had already accumulated $1.125 billion worth of the flagship cryptocurrency. In December, its CEO Michael Saylor publicly advised Elon Musk to convert part of Tesla’s balance sheet into BTC. Two months later, Tesla revealed it had invested $1.5 billion in BTC.
Commenting on MicroStrategy’s Q3 results, Saylor revealed the firm will “continue to evaluate opportunities to raise additional capital to execute on our Bitcoin strategy.” The CEO has revealed he personally holds 17,732 BTC, which he bought at an average of $9,882 per coin.
Source: https://www.cryptocompare.com/email-updates/daily/2021/nov/01/
