MicroStrategy CEO Michael Saylor announced that the firm purchased an additional 5,050 bitcoin for about $242.9 million in cash during the third quarter period.
- Author:
- Alex McShane[1]
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MicroStrategy CEO Michael Saylor announced that the firm purchased an additional 5,050 bitcoin for about $242.9 million in cash during the third quarter period.
On Monday MicroStrategy CEO Michael Saylor announced that the firm purchased an additional 5,050 bitcoin for about $242.9 million in cash during the third quarter period.
The firm purchased the coins at an average price of $48,099 per bitcoin. Saylor tweeted, “As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin.”
The purchase fulfills Michael Saylor's pledge[2], during the firm's Q2 earnings call, to purchase more bitcoin, and comes just weeks after MicroStrategy purchased an additional 3,907 bitcoin[3] for about $177 million in cash.
During the third quarter of 2021 MicroStrategy purchased[4] a total of 8,957 bitcoin for approximately $419.9 million. The average price per Bitcoin was $46,875.
To date, the company holds approximately 114,042 bitcoin, acquired at an aggregate purchase price of $3.16 billion and an average price per bitcoin of $27,713 per bitcoin, inclusive of fees and expenses. The firm owns more Bitcoin than any other public company in the world.
The purchase comes after MicroStrategy sold off its class A common stock in Jeffries, an ATM facility. During the third quarter, MicroStrategy sold an aggregate of 555,179 shares of the ATM facility at an average gross price per share of $727.64 for about $399.9 million.
MicroStrategy has positioned itself[5] as a leader in the Bitcoin space by advocating for and helping other firms, such as
