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MicroStrategy bought an additional 7K BTC

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The provider of analytical software MicroStrategy additionally acquired 7002 Bitcoin (BTC) worth about $414.4 million. Co-founder and head of the company, Michael Saylor, announced this.

Thus, the average purchase price was ~$59,187. As of November 29, the software vendor owns 121,044 BTC. About $3.57 billion has been spent on them (the average cost is $29,534).

Earlier in August 2020, MicroStrategy was the first public company to invest part of its own capital ($250 million) in Bitcoin. Later, the board of directors approved a policy of increasing investments in digital gold at the expense of cash reserves.

The firm’s previous investments

After that, Saylor 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.

Investing in digital gold

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. Onwards, 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 previously in September, it acquired another 5050 BTC (about $242.9 million). The average purchase price was $48,099 per coin. As of September 12, MicroStrategy owned 114,042 BTC. Approximately $3.16 billion was spent on them, based on the average purchase price of $27,713.

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