Michael Saylor’s MicroStrategy Buys 3,907 More Bitcoin as Total Investment Nears $3 Billion
On Tuesday MicroStrategy CEO Michael Saylor announced that the firm purchased an additional 3,907 bitcoin for about $177 million in cash during the third quarter period.
The firm purchased the coins at an average price of $45,294 per bitcoin. Saylor tweeted, “As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin.”
The purchase fulfills Michael Saylor’s pledge, during the firm’s Q2 earnings call last month, to purchase more bitcoin.
MicroStrategy currently holds a total of 108,992 bitcoin acquired at an average price of about $26,769 per bitcoin, and an aggregate purchase price of $2.918 billion. The firm owns more Bitcoin than any other public company in the world
The purchase comes after MicroStrategy sold off its class A common stock in Jeffries, an ATM facility. During the third quarter, MicroStrategy sold an aggregate of 238,054 shares of the ATM facility at an average gross price per share of $753.21 for about $177.5 million.
Notably, MicroStrategy does not partake in any Bitcoin lending or invest in any other cryptocurrency. The firm’s consistent strategy has been to buy Bitcoin with cash, to self-custody it and to hodl it indefinitely.