MicroStrategy today announced the addition of another 295 bitcoins to its reserves, which it managed to acquire for $ 10 million. At the same time, the total volume of the cryptocurrency managed by the company reached 71,079 BTC worth about $ 2.5 billion at the current exchange rate.
“MicroStrategy acquired about 295 bitcoins for $ 10 million in traditional currency, with an average price of $ 33,808 per bitcoin. We are currently running 71,079 bitcoins, acquired for $ 1.145 billion at an average price of $ 16,109 per bitcoin, – tweeted MicroStrategy CEO Michael Sailor. “My formula for success is to get up early, work late and buy bitcoin.”
Similarly, MicroStrategy invested $ 10 million in bitcoin on January 22nd, adding 314 coins to its reserves. The company has been buying cryptocurrency since August 2020 as a way to hedge reserves against inflation and enhance the long-term value of assets for investors.
Sailor previously reported that executives from other companies have shown great interest in the Bitcoin education conference being organized by MicroStrategy.
“I’ve never seen so many leaders sign up to attend one of our events. Every company can benefit from joining the bitcoin money network, ”he wrote.
MicroStrategy (NASDAQ: MSTR) shares, meanwhile, continue to rally despite the consolidation of the bitcoin market. Trading on Monday closed at a record $ 634.56, and today, before the markets opened, the company’s securities rose by another $ 20.
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