Thus, according to the report, the average purchase price was approximately $57,477. Transactions took place between November 29 and December 8, 2021. Moreover, the funds spent correspond to the revenue that MicroStrategy received during the same period from the sale of 119,828 shares at $693.1 apiece.
As of December 9, the firm owns 122,478 BTC, on which it spent about $3.66 billion. At the time of writing, the value of MicroStrategy reserves in digital currency exceeds $6 billion.
The first public company to invest in digital gold
In addition, the firm was the first public company to invest part of its own capital in digital gold. In August 2020, a business analytics software provider bought 21,454 BTC (~$250 million at the exchange rate at the time of the transaction).
MicroStrategy continued to increase reserves in cryptocurrency according to the strategy approved by the Board of Directors.
Since December 2020, the company has started using not only its own capital. But also debt financing to buy Bitcoin, placing convertible bonds in the amount of $650 million.
World’s reserve asset
In February, MicroStrategy issued a new tranche of more than $1 billion and again invested the funds raised in cryptocurrency.
Throughout the year, the firm continued to invest in Bitcoin. The largest purchases were 13,005 BTC for $489 million in June and 7002 BTC for $414.4 million at the end of November. For all time, the average purchase price of Bitcoin by the company was about $29,861.
“You don’t want to pay for your coffee with your Bitcoin, you want to pay for your coffee with a currency,” he said in an interview with CoinDesk TV.