The average purchase price was $48,099 per coin. As of September 12, MicroStrategy owns 114,042 BTC. Approximately $3.16 billion was spent on them, based on the average purchase price of $27,713.
In August 2020, MicroStrategy was the first public company to invest part of its own capital ($250 million) in bitcoin. Saylor called investing in bitcoin a reliable alternative to the US dollar, which is subject to devaluation. Later, the company’s board of directors approved a policy of increasing investments in digital gold at the expense of cash reserves.
After that, Michael expressed confidence that other private firms will follow the company’s example. Following that, in the United States, Jack Dorsey’s Square and Elon Musk’s Tesla decided to make such investments.
In December 2020, MicroStrategy placed $650 million worth of convertible bonds to buy bitcoin. The maturity date is December 15, 2025, unless the company repurchases or converts the securities earlier.
In February, the software provider additionally issued debt securities for more than $1 billion and again invested the funds raised in cryptocurrency. After February 20, 2024, MicroStrategy may redeem all or part of the notes.
In March, MicroStrategy acquired 328 BTC, about 205 BTC and 262 BTC. The firm invested $15 million each in digital gold in April and May. Later, the company bought 229 BTC for the amount of $10 million.
In June, the organization invested another $489 million in the first cryptocurrency, buying 13,005 BTC. In August, an additional $177 million.
Recall that in the same month, the head of MicroStrategy said that bitcoin has the potential to become the “property of the future”, which will be owned by everyone. From small investors to large technology companies and governments. Saylor pointed out that the decentralized nature of bitcoin will allow IT giants to fight cybersecurity and spam.