MicroStrategy Buys 1,434 More BTC since November 29

MicroStrategy Buys 1,434 More BTC

MicroStrategy Inc., a US-based business Intelligence firm, has announced that it bought 1,434 additional bitcoins worth $82 million since November 29.

The firm purchased the cryptocurrency asset at an average of $57,477 per bitcoin, coming shortly after another purchase worth $414 million.

The latest addition, made by cash, happened between November 29 and December 8 as per a Form 8-K filed with the US Securities and Exchange Commission.

MicroStrategy now holds 122,478 bitcoin as of December 8, bought for about  $3.66 billion, at an average cost of $29,861.

The Virginia-based firm is the largest corporate institution holding the primary cryptocurrency. Microstrategy unveiled its strategy to start buying BTC in 2020.

The firm has continued to increase its bitcoin holding since unveiling the plan. MicroStrategy CEO Michael Saylor has been upbeat about bitcoin advocating for its adoption to the public.

Source: SEC

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