Business intelligence firm MicroStrategy added 1,434 bitcoins to its assets after purchasing cryptoassets at an average price of $ 57,477.
MicroStrategy acquired 1,434 bitcoins (BTC) for approximately $ 82.4 million between November 29 and December 8, bringing the total to 122,478 BTC, according to filings with the Securities and Exchange Commission on Thursday. As a result of the last purchase, MicroStrategy shares will be valued at more than $ 5.9 billion, representing a profit of over $ 2.2 billion.
MicroStrategy bought an additional 1,434 bitcoins for ~ $ 82.4 million in cash at an average price of ~ $ 57,477 each. #bitcoin… From 21.12.21 we have #hodl ~ 122,478 bitcoins were purchased for ~ $ 3.66 billion at an average price of $ 29,861 per bitcoin. $ MSTRhttps://t.co/Xke8QhoYpy
– Michael Saylor⚡️ (@saylor) December 9, 2021
Since first investing $ 250 million in bitcoin in August 2020, MicroStrategy has continued to acquire billions of bitcoin in one-time purchases with third-party cash. While there have been instances of the business intelligence company dropping in value, several purchases followed a spike in prices in early 2021 when the price of BTC was above $ 50,000.
RELATED: MicroStrategy Vows To Buy More BTC In Q2 Despite $ 424.8 Million Paper Losses
Bitcoin was valued at $ 48,684 at the time of publication, after falling more than 25% in the past 30 days, according to Cointelegraph Marketplaces Professional. The crypto asset has moved nearly $ 50,000 since it plunged to $ 42,000 on December 3.