Crypto

MicroStrategy’s Bitcoin Stash Surpassed USD 4.5B And They Want More

Source: Adobe/Alvaro Marcos

One of the most bullish non-crypto companies, US-based software developer MicroStrategy, confirmed that it recently acquired BTC 19,452, increasing its stash to BTC 90,531 (USD 4.5bn).

In their latest deal, the Michael Saylor-led company spent USD 1.026bn (inclusive of fees and expenses) paying an average price of approximately USD 52,765 per BTC, the firm said.

Now, they have spent USD 2.171bn on BTC in total, paying an average purchase price of approximately USD 23,985.

Saylor confirmed that MicroStrategy will keep buying BTC with “excess cash” and they might issue new debt or equity securities to buy more of the most popular cryptocurrency.

As reported, last week, the company confirmed that its latest offering of convertible senior notes, worth over USD 1bn, was sold out. This offering was different from the previous one last year because the company this time raised the money “for free” by selling 0% convertible senior notes due 2027.

“We believe our bitcoin strategy, including our bitcoin holdings and related activities in support of the bitcoin network, is complementary to our software business, by enhancing awareness of our brand and providing opportunities to secure new customers,” Phong Le, President & Chief Financial Officer of MicroStrategy was quoted as saying in the announcement.

At the time of writing (13:38 UTC), BTC trades at USD 49,628 and is down by almost 4% in an hour, trimming its daily gains to 2%.
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Learn more:
– 1 Million First-time Buyers Bought Bitcoin on Dorsey’s Cash App Last Month
– 1,400+ Firms Flock To Learn About Bitcoin, But ‘There Is No Playbook’
– Microsoft CEO Claims No Plan To Follow In Tesla’s Bitcoin-buying Footsteps
– A Wave of Giants Rushing to Invest in Bitcoin Could Derail the Stock Market
– Bitcoin Snowball Is Expected To Hit More Institutions in 2021
– Tesla’s Bitcoin Buy Comes As Earlier Large Investors Retreat
– Listed German Cannabis Firm to Buy Bitcoin, Slates Euro and USD


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