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.
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