MicroStrategy Buys 6,556 More Bitcoins, Cementing Its Status as Top Corporate Holder
MicroStrategy, a leading business intelligence firm, has acquired another 6,556 bitcoins, further solidifying its position as the largest corporate holder of the cryptocurrency. The purchase, executed between April 14 and April 20, 2021, cost the company $555.8 million at an average price of $84,785 per bitcoin.
This latest acquisition was funded through MicroStrategy's two at-the-market (ATM) stock offering programs. The company's aggressive bitcoin acquisition strategy has transformed it into a de facto bitcoin investment vehicle. MicroStrategy's public dashboard provides real-time information about its bitcoin purchases and holdings, reflecting its commitment to transparency.
The latest purchase signals continued institutional confidence in bitcoin despite market volatility. At the time of acquisition, bitcoin was trading near $87,300. This purchase brings MicroStrategy's total bitcoin holdings to 538,200 BTC, with the company spending a total of $36.47 billion on the cryptocurrency to date. MicroStrategy's stock price often moves in tandem with bitcoin's market performance, reflecting the company's significant investment in the cryptocurrency.
With this latest purchase, MicroStrategy maintains its position as the largest corporate holder of bitcoin. The company's continued accumulation of the cryptocurrency signals its confidence in the long-term potential of bitcoin, despite short-term market volatility.
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