"MicroStrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin," Saylor wrote in the tweet. "We now hold approximately 40,824 bitcoins."
The move was perhaps expected, given that during its Q3 earnings call, the firm said that it would spend excess cash beyond its $50 million in day-to-day operating cash on bitcoin "subject to market conditions and business needs."
Some back-of-the-napkin math indicates that, based on its previous purchases, MicroStrategy's average cost per bitcoin is $11,635. All told, the total value of its bitcoin holdings is worth roughly $766.6 million.
Beyond just holding bitcoin, MicroStrategy is also looking at ways it might offer bitcoin data products and services as part of its wider business offering, as previously reported.
Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.