MicroStrategy Bought Another 7K Bitcoin Worth $414 Million
MicroStrategy – the firm spearheaded by one of Bitcoin’s most avid and vocal proponents, Michael Saylor – revealed yet another whopping Bitcoin purchase.
MicroStrategy doesn’t seem to waste any time and resources when it comes to accumulating more bitcoin.
Michael Saylor, the company’s CEO, announced that they had bought another 7,002 bitcoins for around $414.4 million in cash.
The average price of their buy was approximately $59,187.
MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX
— Michael Saylor⚡️ (@saylor) November 29, 2021
At the time of this writing, bitcoin’s price sits at around $57K, which is an increase of around 93% from the average price of $29,534 at which MicroStrategy has made all of its purchases.
This means that their investment is currently just shy of $7 billion.
Data from CoinGecko reveals that MicroStrategy remains the public company with the largest Bitcoin stash, followed by Tesla, which reportedly owns 48,000 BTC.
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