An announcement from the CEO of MicroStrategy has revealed the company has purchased a whopping $414.4 million worth of Bitcoin.
The news comes from MicroStrategy CEO Michael Saylor, who announced via his personal Twitter account that MicroStrategy has purchased 7,002 Bitcoins valued at $414.4 million in cash at an average price of %59,187 per Bitcoin. Saylor goes on to state that MicroStrategy currently owns 121,044 Bitcoins bought for an average price of $29,534, which is currently valued at $3.57 billion.
Cointelegraph reports that MicroStrategy sold 571,001 shares of its company at $732.16 a share for approximately $414.4 million in cash. The analytics company is no stranger to picking up large quantities of Bitcoin, as it has purchased Bitcoin almost every quarter since it announced that it was declaring Bitcoin as a treasury reserve asset back in August 2020. If you are interested in reading more about this story, check out this link here.