World’s Largest Corporate Bitcoin Holder Buys Additional 5,050 BTC

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The world’s largest bitcoin (BTC) holding company, MicroStrategy Inc, announced on Monday that it had purchased an additional 5,050 bitcoins for $ 242.9 million, or about 1,800 crore at an average price of $ 48,099 per bitcoin.

On Monday, the world’s largest crypto, bitcoin, was trading around 3% lower at $ 44,833.70, a platform for price data and digital currency information.

MicroStrategy is a business intelligence, mobile software and cloud services company, founded in 1989.

The US-based company now owns 114,042 bitcoins acquired for $ 3.16 billion at an average price of $ 27,713 per bitcoin.

In a regulatory filing, the company also announced that during the period between July 1 and September 12, the company bought around 8,957 bitcoins for around $ 419.9 million in cash, at an average price. of $ 46,875 per bitcoin, including fees and expenses.

In the same filing, the company also announced that it had sold approximately 5,55,179 shares for $ 399.9 million, as part of its previously announced plan to sell up to $ 1.0 billion of its shares. .

MicroStrategy is one of the world’s oldest corporate funders as well as the largest cryptocurrency. The company said in August 2020 that it was using existing cash on its balance sheet to acquire the cryptocurrency.

In July, the company pledged to continue buying bitcoin despite cumulative impairment losses of $ 689.6 million resulting from holding digital assets on its books in its May-June quarterly results.

After MicroStrategy, US electric car maker Tesla Inc is the world’s largest bitcoin holder.

In its June quarter results, Tesla said it had $ 1.3 billion worth of bitcoins on its balance sheet.

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