MicroStrategy takes its Bitcoin holdings to 114,000 BTC ($5.1 billion)
September 13, 2021, 8:26AM EDT
1 min read
Business intelligence firm MicroStrategy has purchased a further 5,050 bitcoin, taking its total holdings to 114,042 BTC, according to a statement today.
The firm spent $3.16 billion on this entire stash, which has a current value of $5.1 billion — a 42% gain.
Since making several major purchases toward the end of last year and the beginning of this year, the firm has continued to buy smaller amounts over time. This latest bitcoin bump cost the firm $242.9 million at an average price of $48,099. This implies that the firm bought the bitcoin before the price crash on September 7.
MicroStrategy CEO Michael Saylor did not comment on the buy, but ahead of his announcement post about it, tweeted, "Slow and steady wins the race."
Gemini Galactic, an affiliate of cryptocurrency exchange Gemini, received approval from the Financial Industry Regulatory Authority (FINRA) to operate a broker-dealer registered with the SEC and is now a FINRA member.