MicroStrategy Buys 7,002 BTC At An Average Price of About $59k for Over $414 Million

MicroStrategy has purchased another batch of Bitcoin.

This time the business intelligence company which first started buying Bitcoin in August 2020 added 7,002 BTC to its stash.

MicroStrategy’s latest purchase cost them $414.4 million in cash as it bought BTC at an average price of ~$59,187 per bitcoin. As of writing, Bitcoin is trading around $57,000, down 17.6% from its all-time high of $69,000 hit earlier this month. So far this year, BTC has pumped 94%.

In total, MicroStrategy now holds ~121,044 BTC acquired for about $3.57 billion at an average price of $29,534 per BTC.

Currently, the company’s Bitcoin stash represents 0.576% of the leading cryptocurrency’s fixed supply of 21 million. By the looks of it, MicroStrategy CEO Michael Saylor may be aiming to own 1% of the Bitcoin supply.

In response to the latest purchase, MSTR shares jumped 2.6% to nearly $689.50, while up more than 77% YTD, MSTR shares are still down 47.5% from its February ATH of $1,314.

The post MicroStrategy Buys 7,002 BTC At An Average Price of About k for Over 4 Million first appeared on BitcoinExchangeGuide.