MicroStrategy Buys Additional $50M in Bitcoin

MicroStrategy's share prices have increased over 170% since the company first announced its interest in bitcoin in July.

Dec 4, 2020 at 10:59 p.m. UTC
Updated Sep 14, 2021 at 10:38 a.m. UTC

MicroStrategy CEO Michael Saylor announced his company's third bitcoin purchase on Twitter Friday evening, per Securities and Exchange Commission filings the same day.

  • Saylor purchased 2,574 bitcoins for $50 million in cash, bringing the business intelligence company's treasury holdings to approximately 40,824 bitcoins.
  • MicroStrategy first bought $250 million in bitcoin (BTC) on Aug. 11. followed by an additional $175 million worth of BTC one month later.
  • Saylor said the latest purchase is part of MicroStrategy's treasury reserve policy of eschewing inflation-prone cash for bitcoin. The 55-year-old executive heralds bitcoin as the "most rational" vessel for value storage anywhere in the world.
  • MSTR shares have soared 170% since Saylor first hinted the firm's interest in BTC in late July 2020. Some now call the company a de-facto bitcoin exchange-traded fund – albeit an inefficient one.
  • Leading U.S.-based cryptocurrency exchange Coinbase brokered MicroStrategy's original bitcoin purchases, as CoinDesk previously reported.
CoinDesk - Unknown

MicroStrategy BTC purchases in 2020


Read more about
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
First a Hum and Then a Bang –Niagara Falls Residents Forced to Reckon With Crypto Mining

The city in New York has imposed a moratorium on new bitcoin mining operations as complaints about noise were compounded by an explosion and fire at a mining site last week.

The city in New York has imposed a moratorium on new bitcoin mining operations as complaints about noise were compounded by an explosion and fire at a mining site last week.

CoinDesk - Unknown
2
CoinDesk - Unknown
No es solo LUNA: las aplicaciones DeFi de Terra han perdido $28.000 millones

Los inversores han abandonado en gran medida el ecosistema Terra, ahora evidente en los protocolos DeFi en la blockchain, y los analistas siguen siendo escépticos sobre sus perspectivas a largo plazo.

Los inversores han abandonado en gran medida el ecosistema Terra, ahora evidente en los protocolos DeFi en la blockchain, y los analistas siguen siendo escépticos sobre sus perspectivas a largo plazo.

CoinDesk - Unknown
3
CoinDesk - Unknown
Crypto News Roundup for May 20, 2022

With bitcoin avoiding a steeper tumble and a look at what’s behind the biggest stablecoin of them all, CoinDesk’s "Markets Daily" is back with its latest news roundup.

With bitcoin avoiding a steeper tumble and a look at what’s behind the biggest stablecoin of them all, CoinDesk’s "Markets Daily" is back with its latest news roundup.

CoinDesk - Unknown
4
CoinDesk - Unknown
Bitcoin Drifts Lower, Support at $25K-$27K

BTC is roughly flat over the past week. Technical signals suggest a neutral to bearish outlook.

BTC is roughly flat over the past week. Technical signals suggest a neutral to bearish outlook.

CoinDesk - Unknown