Business intelligent firm Microstrategy has shown that it will not be resting soon in its quest to acquire more of the largest cryptocurrency, Bitcoin.
The firm has announced today that it has added 295 Bitcoins worth $10 million to its Bitcoin stash. The intelligent firm purchased the Bitcoins at an average price of $33,808 per Bitcoin.
With this latest purchase, Microstrategy now holds 71,079 BTC which it acquired for $1.45 billion at an average price of $16,109 per Bitcoin, to make its entire Bitcoin treasury worth $2.5 billion in Bitcoin.
The CEO of Microstrategy Michael Saylor made the announcement on Twitter. “MicroStrategy has purchased approximately 295 bitcoins for $10.0 million in cash, at an average price of ~ $33,808 per #bitcoin. We now #hodl ~ 71,079 bitcoins acquired for $1.145 billion at average price of ~ $16,109 per bitcoin,” he tweeted.
This is the second $10 million bitcoin purchase by Microstrategy this year. On January 22, the firm bought 314 Bitcoins at an average price of $31,808 when the price of Bitcoin dipped by as much as %15. This can be noticed from the difference in quantity of Bitcoins purchased with the same amount of money.
Microstrategy’s Bitcoin purchase has been progressive since last year when the company said it sees Bitcoin as a better store of value than gold.
The firm bought 21, 454 Bitcoin at $250 million back in August in line with its investment strategy.
It also invested in Bitcoin in December, adding 29,646 bitcoins, worth $650 million to its crypto treasury.