MicroStrategy doles out $240M on additional Bitcoin purchase
The company’s Q3 Bitcoin spend now stands at almost $420 million following this latest BTC acquisition.
Business intelligence outfit and corporate Bitcoin (BTC) whale MicroStrategy has increased its BTC ownership with the additional purchase announced on Monday.
MicroStrategy CEO Michael Saylor announced the purchase of 5,050 BTC for about $242.9 million at an average of $48,099 per coin.
In a Form 8-K filing with the United States Securities and Exchange Commission published on Monday, MicroStrategy stated that it has added 8,957 BTC to its corporate Bitcoin treasury in Q3 2021.
As previously reported by Cointelegraph, MicroStrategy recently bought 3,907 BTC at the cost of about $177 million between July 1 and Aug. 23.
Following the latest Bitcoin acquisition, the company now holds about 114,042 BTC acquired at an aggregate purchase cost of $3.16 billion.
According to the Form 8-K document, MicroStrategy’s Bitcoin cost comes down to about $27,713 per BTC inclusive of fees and sundry expenses.