Bitcoin News

MicroStrategy buys 3,907 more bitcoins with proceeds from the sale of ATM facilities

Michael Saylor revealed in a tweet on Tuesday that MicroStrategy has purchased 3,907 Bitcoins. Therefore, bringing its total holdings to over 108,00 BTC.

MicroStrategy Purchases Bitcoins

MicroStrategy, a business analytics firm, has resumed its Bitcoin spending binge in 2021. Additionally, purchasing an additional 3,907 BTC using revenues from ATM facility sales. According to Michael Saylor, co-founder and CEO of MicroStrategy, this is true.

“MicroStrategy has acquired an additional 3,907 bitcoins for $177 million in cash at an average price of $45,294 per #bitcoin. We #hodl 108,992 bitcoins for $2.918 billion as of 8/23/21, at an average price of $26,769 per bitcoin.”

The acquired coin was purchased between July 1 and August 23, 2021, according to the SEC Form 8-K that was submitted with the transaction. The purchase cost an average of $26,769 per coin. MicroStrategy’s stock, on the other hand, dropped 2.8% after the opening bell on Tuesday.

MicroStrategy Owns More BTC than anyone

Following this latest purchasing binge, MicroStrategy now possesses more bitcoin than any other publicly listed firm on the market, with Tesla a distant second with about 42,000 bitcoin. Elon Musk and Tesla amassed more than $1.5 billion in digital money due to his influence.

MicroStrategy continues to invest in Bitcoin.

MicroStrategy’s bitcoin purchase between July 1 and August 23 was less than its last large purchase in June. MicroStrategy spent over $500 million for a total of 13,005 bitcoins in that big buy.

Michael Saylor Interview

In a recent interview with ETF Think Tank, Saylor indicated that he intends to continue purchasing bitcoin and that his move has expanded MicroStrategy’s brand reach by a factor of 100.

In the interview, Saylor told Dan Weiskopf, “Bitcoin is one of the most, if not the most, disruptive technologies of the decade, and it’s affecting the energy sector, the investing community, and the technological community.” “That implies it’s upsetting politics and the economy as a whole. So it catches people’s interest, it’s progressive, and it focuses people’s attention.”

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