MicroStrategy buys more bitcoin for $489 million in cash

Jun 21, 2021 | The Block News | 0 comments

microstrategy-buys-more-bitcoin-for-$489-million-in-cash

Software company MicroStrategy announced Monday that it had bought an additional 13,005 bitcoins for around $489 million in cash.

The average purchase price per bitcoin was $37,617, said MicroStrategy. The price of bitcoin has fallen sharply over the past few days, and one bitcoin is currently priced at around $32,500.

MicroStrategy’s new bitcoin purchase comes after the company completed its $500 million offering of secured notes last week. The offering was of secured notes due 2028 that bear an annual interest rate of 6.125%.

Nasdaq-listed MicroStrategy starting buying bitcoin last August and since then has accumulated 105,085 bitcoin on its balance sheet. The aggregate purchase price of these bitcoins is around $2.75 billion at an average purchase price of about $26,080 per bitcoin. MacroStrategy LLC, a recently formed subsidiary of MicroStrategy, holds approximately 92,079 of the bitcoins.

© 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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