MicroStrategy is probably one of the giant firms that hasn’t won a hand in making investments in Bitcoin (BTC).
Where not, today when the price of BTC plummeted the firm reported having bought more Bitcoin. The giant reportedly now owns more than 100,000 bitcoins after the company bought 13,005 BTC for a total price of nearly $ 500 million. In other words, the firm owns a stake of 0.5% of the total BTC available.
MicroStrategy founder and CEO Michael Saylor announced his latest purchase on June 21st. The purchase resulted from the accumulation of bond issues in the form of debt worth $ 500 million.
Saylor explained that the 13,005 Bitcoins were purchased at an average price of less than $ 37,617. With the latest mass purchase, MicroStrategy has 105,085 bitcoins. It has allocated more than $ 2.7 billion in such alternative assets with an average price of $ 26,080.
In addition to its large investment in BTC, the firm and its CEO have also undertaken various other pro-bitcoin ventures. MicroStrategy hosts an online BTC conference for executives from large companies, which aims to share the potential of BTC.
The firm turned bitcoin into a treasury savings asset and started paying employees in the form of BTC. The BTC price is currently trading at $ 32,200.
