Saylor's MicroStrategy Buys Another $177M of Bitcoin
The business intelligence firm is buying bitcoin again after a brief lull.
Business analytics software provider MicroStrategy (NASDAQ: MSTR) has added another 3,907 bitcoins to its vast trove of the original cryptocurrency.
- According to a Tuesday filing with the U.S. Securities and Exchange Commission, the company spent about $177 million on its latest BTC purchase, at an average price of approximately $45,294 per coin.
- In total, the firm holds 108,992 BTC, according to a tweet from CEO Michael Saylor:
- MicroStrategy's stock, which some investors use as a proxy for the price of bitcoin, has sunk from a high of $1,273 per share in March to $718 as of press time.
- The price of bitcoin is down 2% over the last 24 hours, changing hands at $49,191.30 at time of publication.
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