Business intelligence firm MicroStrategy has added 1,434 Bitcoin to its coffers after purchasing the crypto asset at an average price of $ 57,477.
According to a Thursday filing with the Securities and Exchange Commission, MicroStrategy bought 1,434 Bitcoin (BTC) between November 29 and December 8 for approximately $ 82.4 million, bringing their total holdings to 122,478 BTC. With the recent purchase, MicroStrategy's holdings are valued at more than $ 5.9 billion, representing more than $ 2.2 billion in profit.
MicroStrategy has purchased an additional 1,434 bitcoins for ~ $ 82.4 million in cash at an average price of ~ $ 57,477 per #bitcoin. As of 9/12/21 we #hodl ~ 122,478 bitcoins acquired for ~ $ 3.66 billion at an average price of ~ $ 29,861 per bitcoin. $ MSTRhttps://t.co/Xke8QhoYpy
- Michael Saylorโก๏ธ (@saylor) December 9, 2021
Since making its initial $ 250 million investment in Bitcoin in August 2020, MicroStrategy has gone on to buy billions of dollars in Bitcoin in separate purchases using the company's available cash in addition to sales of senior convertible notes in private offers to institutional buyers. Although there are cases in which the the business intelligence firm bought the dip, some purchases followed price increases in early 2021 when the price of BTC was over $ 50,000.
Related: MicroStrategy Commits To Buy More BTC Despite Paper Loss On Its $ 424.8 Million Holdings In Q2
According to data from Cointelegraph Markets Pro, Bitcoin's price is $ 48,684 at press time, having dropped more than 25% in the last 30 days. The crypto asset has been hovering around $ 50,000 since dive into the $ 42,000 December 3.
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