MicroStrategy believes Bitcoin will continue to grow and buys 29,646 BTCs for approximately $ 650M at current prices

MicroStrategy believes Bitcoin will continue to grow and buys 29,646 BTCs for approximately $ 650M at current prices

The third largest crypto investment company announced today another gigantic $ 650M purchase of Bitcoins.


21 Dec 2020 , 19:59 @ Katie Müller

MicroStrategy believes Bitcoin will continue to grow and buys 29,646 BTCs for approximately $ 650M at current prices

The third largest crypto investment company announced today another gigantic $ 650M purchase of Bitcoins.

The largest independent publicly-traded business intelligence company has decided not to wait for cheaper Bitcoin. In today’s official report, it reported that it purchased 29,646 bitcoins for approximately $ 650M for an average price of $ 21,925 per bitcoin, inclusive of fees and expenses.

The Company continues to operate in accordance with its Treasury Reserve Policy and currently holds approximately 70,470 bitcoins,

The acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value.  We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price.

said Michael J. Saylor, CEO, MicroStrategy Incorporated

Along with this announcement, the company also informed that in 2020, total purchases of Bitcoins exceeded more than $ 1B.

Recall also a recent announcement from Grayscale, which confirmed its reputation as the largest crypto investment company with information that the value of the total crypto AUM is currently $ 13.0B.

Read also: Grayscale increases total crypto AUM by 85% in less than two months

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