Michael Saylor, the founder of MicroStrategy, said Tuesday his company has acquired an additional $175 million in bitcoin (BTC) in a single purchase.

  • Saylor said on Twitter that his business intelligence company had completed the acquisition of 16,796 bitcoin on Monday.
  • This has significantly increased the total size of MicroStrategy's bitcoin holdings up to 38,250 bitcoin – worth roughly $416 million at current prices.
  • MicroStrategy told the Securities and Exchange Commission (SEC) on Monday that it "may increase" its BTC holdings above the $250 million purchased in August.

Read more: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

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