On Tuesday, MicroStrategy CEO Michael Saylor announced that the company purchased an additional 3,907 Bitcoin for approximately $ 177 million in cash during the third quarter.
The company bought the coins at an average price of $ 45,294 per bitcoin. Saylor tweeted: “On 8/23/21 #hodl we purchased ~ 108,992 bitcoins for ~ 2.918 billion US dollars at an average price of ~ 26,769 US dollars per bitcoin.”
The purchase fulfills Michael Saylor’s promise during the company’s Q2 earnings call last month to buy more Bitcoin.
MicroStrategy currently holds a total of 108,992 bitcoins that were purchased at an average price of approximately $ 26,769 per bitcoin for a total purchase price of $ 2.918 billion. The company owns more Bitcoin than any other publicly traded company in the world
The purchase comes after MicroStrategy sells its Class A common stock in Jeffries, an ATM facility. In the third quarter, MicroStrategy sold a total of 238,054 shares of the ATM facility at an average gross price of $ 753.21 per share for approximately $ 177.5 million.
MicroStrategy has positioned itself as a leader in the bitcoin space by advocating for other companies like Tesla and helping them move their balance sheets from dollars to bitcoin.
In particular, MicroStrategy does not participate in Bitcoin loans or invest in other cryptocurrencies. The company’s consistent strategy was to buy Bitcoin with cash, store it yourself, and hold it indefinitely.
