The head of the MicroStrategy company announced the purchase of 7,002 bitcoins. $414.4 million was spent on their acquisition. The asset was purchased at a price of $59.1 thousand per coin. Information about this appeared on Twitter.
In his post, Michael Sailor wrote that as of November 29, 2021, his company owns 0.576% of the total Bitcoin emission (21 million). Moreover, each bitcoin, on average, was purchased at a price of $ 29,534.
According to the statistics service Bitcoin Treasuries, MicroStrategy currently has 121,043 BTC. Their total cost at the current bitcoin price is $ 7 billion. $3.5 billion was spent on the purchase. That is, there is a 2-fold increase in investment.
As a reminder, MicroStrategy is the first company to invest in Bitcoin. The first purchase was made in August 2020 for $250 million. After that, the company’s board of directors approved further investments in digital gold.
To invest more in BTC, MicroStrategy placed convertible bonds in December 2020 to raise additional funds. The received $650 million was spent on the purchase of BTC.
The second time funds were raised in February 2021, when debt securities were issued in the amount of over $1 billion. The funds raised were invested in cryptocurrencies.
Another $15 million was spent on the purchase of bitcoins in April and May 2021. The penultimate purchase of bitcoin was an investment of 398 BTC. This was spent $23.8 million.
MicroStrategy’s Bitcoin policy is very important to the crypto market. Other major companies have followed suit, including Tesla and Square. This boosted cryptocurrencies, triggering a 2021 bull market.