The publicly listed firm Microstrategy purchased more bitcoin according to a tweet from the company’s chief executive officer Michael Saylor and a recent Securities and Exchange Commission (SEC) filing. The firm spent $15 million in cash and now holds 91,579 bitcoin in the company’s reserves.
Business Intelligence Firm Microstrategy Continues to Stack Bitcoin
Month after month, the company Microstrategy has continued to purchase bitcoin (BTC) and add it to the firm’s balance sheet. On Monday, the company revealed yet another BTC purchase when it disclosed to the SEC in a Form 8-K that it purchased 253 bitcoins for $15 million in cash.
The SEC filing notes:
On April 5, 2021, MicroStrategy Incorporated announced that it had purchased approximately 253 bitcoins for $15 million in cash, at an average price of approximately $59,339 per bitcoin, inclusive of fees and expenses. As of April 5, 2021, the Company holds approximately 91,579 bitcoins that were acquired at an aggregate purchase price of $2.226 billion and an average purchase price of approximately $24,311 per bitcoin, inclusive of fees and expenses.
Close to a Half a Billion More to Purchase to Cross the 100K Bitcoin Cache
The business intelligence (BI) firm still has 8,421 bitcoin to go to surpass 100,000 BTC in reserves. At current BTC prices that means the firm would have to spend another $496 million on bitcoin in order to jump over that number.
Besides large bitcoin funds like GBTC and a few other organizations, Microstrategy is a publicly listed firm with one of the largest stashes of BTC to date.
The web portal bitcointreasuries.org shows the vast number of companies now holding bitcoin on their balance sheets. With Microstrategy’s recent purchase, the website shows 1,373,294 BTC is under the possession of companies and corporate entities. The 1.3 million BTC represents 6.54% of the entire BTC supply.
Out of 21 million bitcoin, Microstrategy holds .436% of the entire supply and today, that stash is worth 2.4x the purchase value at $5.4 billion. The publicly listed electric car company holds approximately 48,000 BTC or roughly half of what Microstrategy has on its balance sheet.
After Microstrategy’s CEO Michael Saylor revealed the purchase on Twitter, the tweet got a lot of responses.
“About time man,” one person replied. “You need to up your orange pill dosage again.”
What do you think about Microstrategy continuing its bitcoin buying spree announcing it bought an additional $15 million worth on Monday? Let us know what you think about this subject in the comments section below.
https://news.bitcoin.com/the-multi-billion-dollar-cache-microstrategy-purchases-15m-worth-of-bitcoin-firms-stash-jumps-to-91579-btc/
