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MicroStrategy buys 13,005 more BTC, now holds 105,000 BTC

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Business analytics firm MicroStrategy has acquired 13,005 BTC (BTC), CEO Michael Saylor said in a tweet today. The firm now holds over 105,000 BTC in total as a result.

“MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per BTC,” tweeted Saylor, adding: “As of 6/21/21 we #hodl ~105,085 bitcoins acquired for ~$2.741 billion at an average price of ~$26,080 per BTC.”

The move comes after MicroStrategy announced the issue of $400 million in a convertible note earlier this month, with all proceeds set to be reinvested in BTC. The note was oversubscribed by over $100 million, ballooning to a total of $500 million meant for BTC.

BTC spree

92,000 BTC is now held in the custody of a subsidiary company called ‘MacroStrategy LLC.’ As such, the notes will be fully and unconditionally guaranteed on a senior secured basis, with all proceeds meant to be reinvested into BTC.

Founded as a business analytics company, MicroStrategy now lists its BTC purchases as one of two ‘core’ business strategies.

“Acquire and hold BTC, which we view as a dependable store of value supported by a robust, public, open-source architecture untethered to sovereign monetary policy,” the company says, as per a press release today.

Meanwhile, the BTC buying spree isn’t finished yet. As CryptoSlate reported earlier this month, MicroStrategy is interested in selling over $1 billion of stock and using the proceeds for ‘general purposes’—one of which could include buying even more BTC.

The post MicroStrategy buys 13,005 more BTC, now holds 105,000 BTC appeared first on CryptoSlate.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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