MicroStrategy’s Bitcoin purchases do not look like they will end anytime soon. The company’s CEO, Michael Saylor, announced the purchase of 328 more Bitcoin (BTC) on Monday. The company paid around $ 15 million for this cash-paid purchase and bought BTC at an average of $ 45,710.
MicroStrategy’s total Bitcoin savings increased to 90,859 after this investment. This amount is approximately 4.43 billion dollars at the current exchange rate. The business intelligence giant has followed the strategy of averaging dollar cost for Bitcoin for the past five months, buying Bitcoin at an average of $ 24,063. Saylor, stated that:
MicroStrategy has purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average price of ~$45,710 per #bitcoin. As of 3/1/2021, we #hodl ~90,859 bitcoins acquired for ~$2.186 billion at an average price of ~$24,063 per bitcoin. $MSTRhttps://t.co/fGH5KacsPI
— Michael Saylor (@michael_saylor) March 1, 2021
The company first invested $ 250 million in Bitcoin in August 2020 and bought 21,454 BTC. MicroStrategy has continued to buy BTC over the past year and its accumulation exceeded 70,000 BTC by the end of the year.
The business intelligence giant recently invested over $ 1 billion in Bitcoin last Wednesday and bought 19,452 BTC.
MicroStrategy invested a total of $ 2.18 billion in Bitcoin, the value of the savings reached $ 4.4 billion, meaning if the company had sold, it would have made more than $ 2 billion in profit in less than five months.