Business intelligence firm MicroStrategy added 1,434 Bitcoin to its coffers after buying the cryptocurrency asset at an average price of $ 57,477.

According to a presentation to the Stock Exchange Committee on Thursday, MicroStrategy bought 1,434 Bitcoin (BTC) between November 29 and December 8 for about $ 82.4 million, bringing its total holdings to 122,478 BTC. With the recent acquisition, MicroStrategy’s holdings are valued at more than $ 5.9 billion, representing more than $ 2.2 billion in profits.

Since making its initial investment of $ 250 million in Bitcoin in August 2020, MicroStrategy has bought billions of dollars in Bitcoin in separate markets using the company’s available cash in addition to selling seniors’ tickets that can be converted into private bidders in institutions. . Although there are cases where the business intelligence firm bought the fall, some markets followed the price increase in early 2021, when the price of BTC was over $ 50,000.

Related: MicroStrategy pledges to buy more BTC despite losing $ 424.8 million worth of paper stock in second quarter

According to Cointelegraph Markets Pro, the price of Bitcoin is $ 48,684 at the time of publication, after falling more than 25% in the last 30 days. Cryptographic data has approached $ 50,000 since falling to $ 42,000 on Friday.

Source: CoinTelegraph