MicroStrategy Adds Another 7,002 Bitcoins to Its Kitty

MicroStrategy, a US-based business intelligence company, added another BTC 7,002 valued at approximately $414 million (roughly Rs. It now has 3,114 crore, with an average value $59.178 (roughly Rs. 45 lakh). This latest purchase brings the total BTC accumulation of the company to 1,21,044 bitcoins. The firm announced its first purchase in August 2020. Although MicroStrategy has not been as consistent in its buying habits as it was in 2020, the company has been steadily adding Bitcoins to their stockpile.

MicroStrategy’s CEO Michael Saylor tweeted the news about the latest BTC addition to the company. This led to a huge jump in share prices. A regulatory filing was also filed by the firm confirming the latest BTC scoop. The proceeds of a stock sale that was previously disclosed in June, which has so far raised approximately $414.4million (roughly Rs. Through the sale of 5,71,000 shares during the fourth quarter, 3,114 crore was raised. This latest investment comes as Bitcoin prices hover around a seven week low due to fears over an Omicron coronavirus variant.

MicroStrategy purchased 7,002 additional bitcoins at a price of $414.4million in cash, an average price being $59187 per #bitcoin. We #hodl121,044 bitcoins purchased for $3.57Billion at an average price $29.534 per bitcoin as of 11/29/21 $MSTRhttps://t.co/OA8VWG1bZX

– Michael Saylor, @saylor November 29, 2021

MicroStrategy currently has a stockpile of BTC 1,21,000.44 that is worth close to $7B (roughly Rs. 52,570 crore). The company spent approximately Rs. 3.57 billion on its BTC kitty, which is roughly $3.57 billion. The firm spent $3.57 billion (roughly Rs. 25,765 crore).

According to CNBC, Saylor stated that the company will continue to acquire Bitcoin quarter-by-quarter, depending on market conditions and what is most beneficial to our shareholders.

MicroStrategy is still the most invested publicly traded company in the cryptocurrency marketplace, despite other companies placing big bets. Tesla, the electric car manufacturer led by Elon Musk, holds 42.902 Bitcoins valued at $2.45 billion (roughly Rs. According to Bitcoin Treasuries, 18,402 crore. Jack Dorsey founded digital payments company square. He has 8,027 Bitcoins worth $459.5 million (roughly Rs. 3,451 crore, while Mike Novogratz’s group Galaxy Digital has 6,400 Bitcoins valued at $938.8million (roughly Rs. 7,051 crore).

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