MicroStrategy has continued to put its money where its mouth is. In its latest buying round, the business intelligence firm gulped another 19,452 Bitcoin valued at about $1.026 billion.
The company’s CEO and very vocal Bitcoin evangelist, Michael Saylor, broke the news on Twitter, noting that the firm purchased the asset for an average price of $52,765 per Bitcoin.
MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTRhttps://t.co/FbsRYhXEhn— Michael Saylor (@michael_saylor) February 24, 2021
As reported by BTC PEERS, the firm had on February 19 announced that it raised $1.05 billion from its debt offering. The amount is over $100 million higher than its initial offer of $900 million. MicroStrategy shifted its goal post from $600 million to $900 million before finally raising over a billion dollars.
Following its latest purchase, MicroStrategy now holds about 90,531 Bitcoins, making it the largest-known institutional investor in the digital asset. According to data on BitcoinTreasuries, MicroStrategy is being trailed by Tesla (NASDAQ:TSLA), Galaxy Digital, and Square.
Commenting on the latest development Saylor said in a statement:
The company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin.Saylor went further to suggest that Bitcoin can function as a “dependable store of value,” and that his firm will continue to acquire more Bitcoin.
