MicroStrategy announces new bitcoin buy worth $177 million

Aug 24, 2021 | The Block News | 0 comments

microstrategy-announces-new-bitcoin-buy-worth-$177-million

Michael Saylor’s publicly traded company MicroStrategy has expanded its bitcoin hoard once again, announcing the purchase of 3,907 BTC for a total of $177 million. 

The purchase was disclosed Tuesday. This brings MicroStrategy’s total bitcoin supply to 108,992 BTC, an amount worth approximately $5.3 billion at press time. Saylor said Tuesday morning that the company has spent “~$2.918 billion at an average price of ~$26,769 per bitcoin” to obtain the digital assets.

As shown in the chart below, Tuesday’s announcement marks the first of its kind since June. Saylor’s MicroStrategy, a business intelligence software company, began acquiring bitcoin on its balance sheet last year. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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