In a tweet, Michael Saylor of MicroStrategy (MSTR) announced that the company has purchased another 3,907 Bitcoins for $177 million in cash reserves. The average price of the Bitcoin purchased was $45,294.
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The company now holds 108,992 Bitcoin it acquired for the price of $2.918 billion at an average purchase price of $26,769. The SEC form 8-K that was filed also reveals that the Bitcoin was purchased between July 1, 2021, and August 23, 2021.
Michael Saylor and MicroStrategy have shown a relentless commitment to Bitcoin as it has continuously ramped up its holding of the cryptocurrency at different price points.
MicroStrategy also now has well over double the Bitcoin than any other publicly traded company on the market. After MicroStrategy’s 108,922 is Tesla (TSLA) with just approximately 42,000 Bitcoin, as alluded to by Elon Musk in a response to a tweet.
This story is developing.