MicroStrategy Bought 7K Bitcoins in Fiscal Fourth Quarter for $414M
The business-intelligence software company said it owned 121,044 bitcoins as of Nov. 29, worth about $3.6 billion.
Nov 29, 2021 at 1:33 p.m. UTCUpdated May 11, 2023 at 5:49 p.m. UTC
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MicroStrategy said it bought 7,002 bitcoins for about $414 million in cash during its fiscal fourth quarter.
- The company bought bitcoins during the quarter for an average price of about $59,000, it said in a statement.
- The largest crypto currency by market capitalization was trading around $57,326 on Monday.
- MicroStrategy now holds 121,044 bitcoins worth about $3.6 billion with an average purchase price of about $29,534 each.
- CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company. Its other business is developing business-intelligence software.
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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets