$414 million of Bitcoin was just purchased by one company

One company has scooped up $414.4 million worth of Bitcoin, bringing its total BTC balance to a ridiculous $3.5 billion.

@JakConnorTT

Published Nov 30, 2021 3:32 AM CST
Updated Dec 20, 2021 10:29 PM CST

55 seconds read time

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.

$414 million of Bitcoin was just purchased by one company 01

NEWS SOURCES:cointelegraph.com, microstrategy.com

Jak Connor

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.