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Michael Saylor’s MicroStrategy Buys 3,907 Extra Bitcoin as Complete Funding Nears $3 Billion

08/24/2021

MicroStrategy bought an extra 3,907 bitcoin for about $177 million in money throughout the third quarter interval.

On Tuesday MicroStrategy CEO Michael Saylor introduced that the agency bought an extra 3,907 bitcoin for about $177 million in money throughout the third quarter interval.

The agency bought the cash at a median worth of $45,294 per bitcoin. Saylor tweeted, “As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at a median worth of ~$26,769 per bitcoin.”

The acquisition fulfills Michael Saylor’s pledge, throughout the agency’s Q2 earnings name final month, to buy extra bitcoin. 

MicroStrategy at the moment holds a complete of 108,992 bitcoin acquired at a median worth of about $26,769 per bitcoin, and an mixture buy worth of $2.918 billion. The agency owns extra Bitcoin than another public firm on this planet

The acquisition comes after MicroStrategy offered off its class A standard inventory in Jeffries, an ATM facility. In the course of the third quarter, MicroStrategy offered an mixture of 238,054 shares of the ATM facility at a median gross worth per share of $753.21 for about $177.5 million.

MicroStrategy has positioned itself as a pacesetter within the Bitcoin house by advocating for and serving to different companies, equivalent to Tesla, to transform their stability sheets from {dollars} to Bitcoin.

Notably, MicroStrategy doesn’t partake in any Bitcoin lending or spend money on another cryptocurrency. The agency’s constant technique has been to purchase Bitcoin with money, to self-custody it and to hodl it indefinitely.