Buying bitcoins from MicroStrategy shows no signs of slowing down after CEO Michael Sailor announced the purchase of an additional 328 bitcoins (BTC) on Monday. The purchase, which was paid for in cash, cost the company approximately $ 15 million and corresponds to the average coin price of $ 45,710 at the time of purchase.
The investment increases the total supply of MicroStrategy bitcoins to 90,859 coins – for a total of $ 4.3 billion based on current price. Over the past five months, the company has mostly managed to get by with the average cost of one dollar in bitcoin, bringing the average price of each bitcoin purchase to $ 24,063 per currency. Sailor tweeted on Monday:
The company first bought Bitcoin in August 2020, adding an initial $ 250 million to the 21,454 coins. MicroStrategy continued to buy more BTC at various points towards the end of 2020, eventually accumulating over 70,000 coins by the end of the year.
In February, the business intelligence company announced it would raise an additional $ 900 million for additional Bitcoin purchases – an amount that ultimately surpassed $ 1 billion when an additional 19,452 coins were purchased last Wednesday.
MicroStrategy’s total spending on Bitcoin is $ 2.18 billion, while the company’s assets are valued at $ 4.3 billion at current exchange rates, meaning the company would have earned over $ 2 billion in five months if it were sold. However, there is no reason to believe that this will happen anytime soon. Sailor previously stated that buying bitcoins was one of the company’s two goals along with growing the analytics software business.