MicroStrategy expanding company’s Bitcoin holdings with $489 million purchase. The company has bought more Bitcoin despite the current price struggles. According to an announcement, the business intelligence firm purchased 13,005 BTC at an average price of $37,617 for a combined total of about $489 million.
Bitcoin Balance Sheet
According to a Monday report, the firm’s Bitcoin balance sheet north of the 100,000 marks, with the firm now holding 105,085 BTC. With the current spot price, MicroStrategy Bitcoin holdings worth $2.74 billion. This amounts to an average of a little over $26,000 per Bitcoin. The firm had announced a $400 million debt raise earlier in June to expand its Bitcoin treasury holdings.
MicroStrategy Incorporated is the largest independent publicly traded business intelligence company. The Subsidiary of MicroStrategy, MicroStrategy LLC, also holds approximately 92,079 Bitcoins. Moreover, the MicroStrategy analytics platform consistently rated as the best enterprise analytics.
Fortune Global 500
Most of the admired brands in the fortune global 500 worldwide also use this analytical company. The company pursues two corporate strategies. Firstly, the form’s strategy is to grow their enterprise analytics software business to promote the vision of intelligence everywhere.
Secondly, the firm wants to acquire a hold of Bitcoin. MicroStrategy views Bitcoin as a dependable store of value, supported by a public open-source architecture untethered to a sovereign monetary policy. MicroStrategy is a registered trademark of the MicroStrategy Incorporated in the United States and certain other countries.