Virginia-based business intelligence firm MicroStrategy has started the month with yet another massive Bitcoin purchase.
The red-hot company has added 15,400 BTC (roughly $1.5 billion) to its coffers.
It now holds an astonishing 402,100 BTC following its most recent purchase. This represents nearly 2% of all Bitcoins that will ever be in existence.
This was the fourth weekly purchase in a row for MicroStrategy. As reported by U.Today, the company announced a record-shattering $5.4 Bitcoin purchase on Nov. 25. The two previous weekly purchases took place on Nov. 18 ($4.6 billion) and Nov. 11 ($2.03 billion).
Alex DovbnyaMicroStrategy's average purchasing price is now approaching the $60,000 mark, currently standing at $58,263.
The company's shares are up 0.27% in premarket trading following the Monday announcement.
Gamza KhanzadaevMeanwhile, Bitcoin is currently trading at $95,556 after declining by 1.7% over the past 24 hours.
Some other companies have also adopted MicroStrategy's debt-for-Bitcoin offering, with mining giant Marathon Digital (MARA) announcing a $700 million private offering of convertible notes in order to buy more Bitcoin. "The only thing better than Bitcoin is more Bitcoin," MicroStrategy cofounder Michael Saylor quipped in response to the announcement.
Now, Saylor is trying to sell his Bitcoin strategy to the big fish. As reported by U.Today, the charismatic billionaire recently gave a five-minute presentation to the Microsoft Board of Directors in a long-shot effort to convince the company to add Bitcoin to its portfolio ahead of an upcoming shareholder vote.
The MicroStrategy cofounder recently insisted that it is never "too late" to buy Bitcoin.
Godfrey Benjamin
Gamza Khanzadaev
Dan Burgin
Vladislav Sopov