on the crypto
Business intelligence and bitcoin software and services provider whale MicroStrategy, announced its latest purchase of 3.907 BTC at approximately $ 45.294 per BTC for a quotation of $ 177 million, according to a US SEC filing on Tuesday.
A huge amount of bitcoin
The purchase brings the total number of BTC owned by the Virginia-based company to 108.992, making it one of the fastest and largest accumulators of the number one cryptocurrency on the market today. MicroStrategy CEO Michael Saylor tweeted:
“MicroStrategy bought an additional 3.907 bitcoins for ~ $ 177 million in cash at an average price of ~ $ 45.294 per #bitcoin. As of 23/08/21 we hold 108.992 bitcoins acquired for ~ $ 2,918 billion at an average price of ~ $ 26.769 per bitcoin.
MicroStrategy's latest purchase was announced two months ago, on June 21, when the company added 13.000 BTC for $ 489 million at an average price of 37.617 per BTC. The company also claimed at the time that its subsidiary MicroStrategy LLC held 92.079 BTC out of a total of 105.085 BTC.
The company's entire stock of BTC is currently worth over $ 5 billion
The purchase was funded through the company's proceeds from sales of its ATM facilities, according to the official announcement on its blog. It is part of the company's previously announced plan to sell up to $ 1 billion in common stock and use the net proceeds to buy more bitcoins.
To do this, MicroStrategy entered into an open market sales agreement with Jeffries LLC on June 14, 2021 to sell each share for $ 0,01. Since the beginning of the third quarter, the company said it has so far sold 238.053 shares under the ATM facility for a gross amount of $ 753,21 million. After fees and expenses, the net was $ 177,5 million.
The company's entire stock of BTC is now worth around $ 5,3 billion at the current price of around $ 48.606 per BTC.
The Bitcoin community applauds the latest purchase
MicroStrategy is the largest independent publicly traded business intelligence company offering tailored solutions to companies across various industries both in the United States and internationally. Fortune Global 500 companies are among their best customers.
Since its Bitcoin venture, some investors have used the company's stock as a proxy for the price of bitcoin. Both the company's shares and bitcoin have so far remained unresponsive to the news.
Bitcoin lost 2,6% the next day after failing to maintain its breakout above $ 50.000 on Monday. Meanwhile, MicroStrategy's MSTR also lost 2,2% in the past 24 hours, trading at $ 705.
Despite little or no market reaction, the Bitcoin community has always responded positively to the news. Bitcoin maximalist and founder of Morgan Creek Digital Asset Investments Anthony Pompliano said, "Congratulations, your belief is fun to watch."
