The NASDAQ-listed tech giant, spearheaded by Michael Saylor, continues its BTC buying spree after another substantial purchase worth more than $80 million.
- Michael Saylor, one of the most prominent bitcoin advocates, who is also the founder and CEO of MicroStrategy, announced the latest purchase earlier on December 9th.
- The company has accumulated another 1,434 coins for approximately $82.4 million in cash at an average price of around $57,500 per bitcoin. This means that the purchase was made most likely last week since BTC’s price has been stuck below $50,000 ever since the Saturday crash.
- This is the tech behemoth’s second bitcoin buy in the past few weeks. As reported by CryptoPotato in late November, the firm then spent $414 million to swipe just over 7,000 coins.
- Consequently, the company’s total stash is now 122,478 bitcoins, which were acquired for $3.66 billion at an average price of just under $30,000.
- Given bitcoin’s price as of writing these lines – inches away from $50,000 – this means that MicroStrategy’s entire BTC portfolio is now worth over $6 billion.
MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin. As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin. $MSTRhttps://t.co/Xke8QhoYpy
— Michael Saylor (@saylor) December 9, 2021