In Brief:
- MicroStrategy bought 1,434 bitcoins worth $82.4 million.
- The purchase was for an average price of $57,477 per BTC.
- Now the firm owns 122,478 bitcoins in total with a cost basis of $3.66B.
Business intelligence firm MicroStrategy announced the purchase of 1,434 Bitcoins worth $82.4 million.
The newest MicroStrategy bitcoin purchase took place between November 29 and December 8, as per a Form 8-K filing with the US Securities and Exchange Commission.
The coins were purchased for an average price of $57,477 per coin by MicroStrategy.
MicroStrategy now owns around 122,478 Bitcoins with a cost basis of $3.66 billion. The firm has paid an average of $29,861 per Bitcoin in total.
In addition, the company reported today that during the same time period as the recent transactions, it issued and sold 119,828 shares at an average price of $693.10 per share.
The firm received $82.4 million in net proceeds as a result of this transaction.
Michael Saylor, the well-known Bitcoin supporter and CEO of MicroStrategy, has been thrust into the limelight since his business first invested in Bitcoin in August of last year. MicroStrategy announced just 10 days ago that it had purchased over 7,000 Bitcoin between October 1 and November 29.
Recently Saylor took a hit at gold and said it should be scared of bitcoin, in a yahoo finance live event. He said, “The only thing that is threatened by bitcoin is gold. The best thing you could do is sell all $10 trillion of gold and buy bitcoin. Gold is a dead rock. It’s the worst-performing asset, bar none, no debate. There is no hope for it.”
Saylor expects that bitcoin will grow to be a $100 trillion asset class, adding that it is outperforming gold. “Digital gold is going to replace gold this decade,” Saylor stated.
Right now MicroStrategy is still the largest corporate bitcoin holder, with holdings worth more than $5.9 billion at current prices
