The listed firm now holds 92,079 BTC bought for a total of $2.251 billion.
Publicly traded business intelligence firm MicroStrategy (NASDAQ: MSTR) is making the most of the downturn in bitcoin (BTC, -2.2%) prices, buying another 229 BTC for $10 million in cash.
- Disclosed by CEO Michael Saylor on Twitter and in an SEC filing Tuesday, the firm bought the cryptocurrency at an average price of $43,663 per bitcoin.
- The purchase means MicroStrategy now holds 92,079 BTC bought for a total of $2.251 billion at an average price of approximately $24,450 per bitcoin.
- That means the firm has almost doubled its money since it started investing in the cryptocurrency, with the total holdings now being worth $4.150 billion, according to CoinDesk’s price calculator.
- Only five days ago, Saylor announced the purchase of 271 BTC for $15 million.
- The company has a policy of regularly buying bitcoin for its treasury reserves as hedge against U.S. dollar inflation.
- At press time, a bitcoin is worth $45,141, roughly flat over 24 hours.