MicroStrategy Bought $489M in Bitcoin, Now Over 105,000 BTC

The business intelligence firm announced today that it has purchased another 13,005 Bitcoins worth $489 million in cash at an average price of $37,617 per unit. The acquisition follows MicroStrategy's recent filing with the US Securities and Exchange Commission (SEC) that the proceeds from a recently closed private sale will be allocated to the acquisition. This brings the company's total Bitcoin assets to 105,085 acquired with an average purchase price per bitcoin of approximately $2,741 billion, including fees and other expenses. “We believe our bitcoin acquisition strategy is complementary to our enterprise analytics software and services, as we believe that bitcoin and our related activities that support the bitcoin network can increase awareness of our brand and provide opportunities to drive new customers for our analytics offering. . The company stated it in its latest S-3 filing. In its final statement before the acquisition, the company said it has formed a new subsidiary called MacroStrategy LLC. The subsidiary will be responsible for managing and securing the company's Bitcoin holding and currently holds approximately 92,079 of the company's total Bitcoin stock over the past four months. Bitcoin is currently playing at $32,000, roughly 49% below the April record MicroStrategy was aiming for. Its main treasury, Bitcoin, and its shares fell 7.5% in premarket trading. Despite this, MicroStrategy common stock was up 66.4% year-over-year. MicroStrategy is the world's largest independent publicly traded analytics and business intelligence company. According to crypto industry data, it is also the first public company to hold more than 100,000 BTC. It is also the company that bought the most BTC in the past.

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