MicroStrategy Completed $240M Of Bitcoin Acquisition

By Emily Rys | September 14, 2021

Business intelligence and corporate Bitcoin (BTC) giant MicroStrategy has reportedly added a significant sum of the virtual asset to its balance sheet, via the newly completed acquisition on September 13th. 

Specifically, Head of MicroStrategy – Michael Saylor – reportedly disclosed the details regarding the acquisition of 5,050 BTC at the approximately price of $242.9 million ($48,099 per coin). 

Via a submitted Form 8-K with the US SEC published on August 13th, MicroStrategy detailed its move to include an extra amount of 8,957 BTC to its corporate Bitcoin treasury in the Third Quarter of this year. 

Previously, MicroStrategy reportedly completed the purchase of 3,907 BTC at the cost of about $177 million between July 1 and Aug. 23.

After its most recent Bitcoin buy, the current sum of Bitcoin recorded in its possession is nearly 114,042 BTC, all via an aggregate purchase cost of $3.16 billion.

Taking into account the BTC spot price at the moment, the overall value of the Bitcoin amount the firm is holding can exceed the $5 billion benchmark. 

As revealed in the Form 8-K paper, MicroStrategy’s Bitcoin cost finally stands at around $27,713 for every BTC, after taking into account fees and sundry expenses.

The acquisition of 5,050 BTC reportedly served as an additional sign revealing the firm’s intention of widening the scope of its Bitcoin position. Regardless of paper losses on its Bitcoin investment in the second quarter, MicroStrategy claimed that its stance towards the digital coin remained unchanged.

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