MicroStrategy declared earlier this week it has purchased another 271 bitcoin worth 15 million dollars.
The firm, which is focused on business intelligence (BI), cloud-based services, and mobile software, is widely known for being the company holding the biggest quantity of bitcoins. The news of the latest purchase was disclosed via Twitter by the CEO of MicroStrategy Michael Saylor, who continues his plan even though the digital currency value is currently decreasing.
“MicroStrategy has purchased an additional 271 bitcoins for $15.0 million in cash at an average price of ~$55,387 per #bitcoin. As of 5/13/2021, we #hodl ~91,850 bitcoins acquired for ~$2.241 billion at an average price of ~24,403 per bitcoin. $MSTR”Michael Saylor, CEO of MicroStrategy
MicroStrategy was the first publicly listed company that began investments in bitcoin in 2020. Many more firms followed and implemented bitcoin in their balance sheets.
The company didn’t stop and made another purchase of 295 BTC in February. The last investment that was made by the company dates less than two weeks ago when another 253 BTC were acquired. This amount was worth $15 million on the day they were bought.
“This investment reflects our belief that Bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”Michael Saylor, CEO of MicroStrategy
MicroStrategy also declared last month that starting from April 11th non-employee directors of the company board will no longer get their fees compensated in fiat currency. From now on, these members will receive the payment for their services in bitcoin, and their fees won’t change in value.
“At the time of payment, the fees will be converted from U.S. dollars into bitcoin by the payment processor and then deposited into the digital wallet of the applicable non-employee director.”Michael Saylor, CEO of MicroStrategy