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MicroStrategy Buys 5,050 More Bitcoins

The business-intelligence software company said it owned 114,042 bitcoins as of Sept 12.

Sep 13, 2021 at 12:56 p.m. UTC
Updated Sep 13, 2021 at 4:10 p.m. UTC

CORRECTION (Sept. 13: 16:10 UTC): An earlier version of this article incorrectly stated that the current value of MicroStrategy’s bitcoin holdings was $3.16 billion. That amount is actually $5.1 billion.

MicroStrategy said Monday it bought about additional 5,050 bitcoins. The business-intelligence software company now holds 114,042 bitcoins, which were acquired for a total of $3.16 billion and at an average price of $27,713 per bitcoin. At current prices, the total value of MicroStrategy’s bitcoin holdings are worth about $5.1 billion.

  • Nasdaq-listed MicroStrategy said it had purchased about 8,957 bitcoins for $419.9 million in cash during the third quarter between July 1 and Sunday. In August, the company disclosed that it had bought 3,907 bitcoins at an average price of about $45,294 per coin.
  • CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company. Its other business is developing business-intelligence software.
  • MicroStrategy owns so much bitcoin that some investors use it as a proxy for investing in the cryptocurrency. Shares have sunk from a high of $1,273 in March to $616 on Monday morning.

UPDATE (Sept. 13, 13:26 UTC): Updated with information about MicroStrategy’s August purchase of bitcoin, and additional background in the third bullet point.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Tanzeel Akhtar is a CoinDesk news reporter based in Europe.

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