MicroStrategy buys additional 13,005 bitcoins for $489 million

  • As of 21 June 2020, MicroStrategy holds an aggregate of 105,085 bitcoins, which were acquired at an average purchase price of around $2.741 billion and an average purchase price of approximately $26,080 per bitcoin

Livemint
Updated21 Jun 2021, 07:32 PM IST
MacroStrategy LLC, a subsidiary of MicroStrategy, holds approximately 92,079 of the bitcoins.
MacroStrategy LLC, a subsidiary of MicroStrategy, holds approximately 92,079 of the bitcoins.(REUTERS)

US-based enterprise software company, MicroStrategy Inc, on Monday said that it has purchased additional 13,005 bitcoins for around $489 million in cash at an average price of $37,617 per bitcoin, inclusive of fees and expenses.

As of 21 June 2020, MicroStrategy holds an aggregate of 105,085 bitcoins, which were acquired at an average purchase price of around $2.741 billion and an average purchase price of approximately $26,080 per bitcoin.

At the current price of $32,261, MicroStrategy’s total bitcoin holding is worth around $3.4 billion.

MacroStrategy LLC, a subsidiary of MicroStrategy, holds approximately 92,079 of the bitcoins. Michael Saylor-led company had earlier announced that it will form a subsidiary, MacroStrategy LLC, which will hold existing approximately 92,079 bitcoins.

Nasdaq-listed MicroStrategy had earlier this month raised $500 million via senior secured notes at an annual rate of 6.125% due 2028 in a private offering to qualified institutional buyers.

The company also intends to sell up to $1 billion of its common stock, with the aim to use some of the net proceeds to buy bitcoin.

MicroStrategy is among one of the earliest corporate backers of the world’s oldest as well as the biggest cryptocurrency. The company in August 2020 had said that it was using existing cash on its balance sheet to acquire the cryptocurrency.

The world’s biggest crypto currency was trading deep in the red amid an intensifying cryptocurrency crackdown in China. The drop comes amid a growing crackdown on cryptocurrencies in China, where authorities in the southwest province of Sichuan on Friday ordered bitcoin mining projects to close.

Bitcoin was trading at $32,362.92, down -5.4% at around 6.50pm IST after trading in a wide range of $32,018.48-36,106.41 over the past 24 hours, as per CoinGecko.com.

Moreover, the world’s second-biggest crypto currency, ether, slipped below the $2,000 level and was trading around $1,900 zone. The digital asset is now more than 55% lower against its all-time high of $4,356.99, hit on 12 May 2021.

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First Published:21 Jun 2021, 07:32 PM IST
HomeMarketsCryptocurrencyMicroStrategy buys additional 13,005 bitcoins for $489 million

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