MicroStrategy Discloses Yet Another Bitcoin Purchase

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Fri, 03/05/2021 - 13:15
Alex Dovbnya
MicroStrategy has bought the dip once again, adding $10 million worth of Bitcoin to its holdings
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Business intelligence firm MicroStrategy has acquired another $10 million worth of Bitcoin, according to its March 5 filing with the U.S. Securities and Exchange Commission:

On March 5, 2021, MicroStrategy Incorporated (the "Company") announced that it had purchased approximately 205 bitcoins for $10.0 million in cash, at an average price of approximately $48,888 per bitcoin, inclusive of fees and expenses.

It currently holds nearly $2.2 billion worth of Bitcoin, having accrued 91,064 coins:

As of March 5, 2021, the Company holds approximately 91,064 bitcoins that were acquired at an aggregate purchase price of $2.196 billion and an average purchase price of approximately $24,119 per bitcoin, inclusive of fees and expenses.

As reported by U.Today, MicroStrategy snapped up over $1 billion worth of Bitcoin after completing its debt offering. Earlier this week, the company added another $15 million.

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Bitcoin spiked roughly one percent on the news, currently trading at $47,879 on the Bitstamp exchange.

MicroStrategy's stock plunges over 50 percent

Stock market investors may not be so enthusiastic about MicroStrategy's growing Bitcoin trove, with the company's shares losing over half of their value in less than a month.

On March 4, MSTR closed nearly 51 percent below its Feb. 9 high of $1,272.

It is down another 1.03 percent in pre-market trading.

                                                           
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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