November 29, 2021

MicroStrategy bought 7002 BTC

MicroStrategy bought 7002 BTC

Analytics software provider MicroStrategy bought an additional 7002 BTC worth about $414.4 million, according to company head Michael Saylor.

The average purchase price was ~$59,187. As of November 29, the software vendor owns 121,044 BTCs - about $3.57 billion spent on them (average value of $29,534).
In August 2020, MicroStrategy was the first public company to invest some equity ($250 million) in bitcoin. Later, the board of directors approved a policy to increase investment in digital gold from cash reserves.

After that, MicroStrategy CEO Michael Saylor expressed confidence that other private firms would follow suit. In the U.S., Jack Dorsey's Square and Ilon Musk's Tesla have decided to make similar investments.

In December 2020, the provider of analytical software placed $650 million in convertible bonds to buy bitcoin.

In February, the company issued more than $1 billion in debt securities and reinvested the funds raised in cryptocurrency.

In March, MicroStrategy bought 328 BTC, about 205 BTC and 262 BTC. The firm invested $15 million each in digital gold in April and May. The company later bought 229 BTC worth $10 million.

In June, the organization invested another $489 million in the first cryptocurrency, buying 13,005 BTC, an additional $177 million in August, and purchased another 5,050 BTC in September.

Nasdaq-listed enterprise mobile software developer Phunware followed MicroStrategy's example. In November, the company announced an additional purchase of 398 BTC worth ~$23.8 million.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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