MicroStrategy invested another $ 10 million in bitcoin, reported company CEO Michael Saylor on Friday. According to him, this was enough to buy 205 bitcoins at an average price of $ 48,888 per coin.
MicroStrategy has purchased an additional ~205 bitcoins for ~$10.0 million in cash at an average price of ~$48,888 per #bitcoin. As of 3/5/2021, we #hodl ~91,064 bitcoins acquired for ~$2.196 billion at an average price of ~$24,119 per bitcoin. $MSTRhttps://t.co/a0BRd4Wy3r
— Michael Saylor (@michael_saylor) March 5, 2021
The company invested about $ 1 billion in bitcoin in February and currently has 91,064 BTC in reserves. The total investment was $ 2.19 billion, and the current position size is $ 4.3 billion.
On February 25, MicroStrategy announced the purchase of 19,452 BTC worth $ 1.026 billion, with an average price of $ 52,765 per BTC. To raise this money, she issued interest-free convertible bonds. In the future, MicroStrategy intends to continue investing in bitcoin with its own and borrowed funds.
“We will continue to pursue a strategy of acquiring bitcoin with surplus cash and may from time to time, in accordance with market conditions, issue debt or equity securities in order to raise capital for the purchase of bitcoin,” Sailor said earlier.
Despite today’s announcement, MSTR shares continue to fall before the markets open after having dropped in price from their peak in half. Bitcoin is down 2% today and is trading slightly above $ 48,000.
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