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MicroStrategy Keeps Adding Bitcoin to Its Purse

MicroStrategy has recently bought $94.2 million worth of bitcoins.

One of the premier business intelligence and analytics companies, MicroStrategy is one of the largest Bitcoin hodlers in the world.

Its charismatic founder Michael Saylor is known for his fondness for Bitcoin.

That’s why MicroStrategy buying Bitcoins during a dip has now become a usual affair.

According to the latest disclosure, the company held, till December 29, 2021, 124,391 bitcoins, which were bought for around $3.75 billion and an average purchase price of approximately $30,159 per bitcoin, including fees and expenses.

During the ongoing quarter, the company has added 10,349 Bitcoins to its reserves. Of that, 1,914 bitcoins were purchased between December 9, 2021, and December 29, 2021, for about $94.2 million.

The current price of Bitcoin is roughly $47000.

So, the value of the total holdings of 124,391 bitcoins is $5,846,377000.

Assuming there are no other expenses, the profit stands at $2,096,377000.

This quarter also marks an increase in the purchase of the number of bitcoins. In quarter 3, the company had bought 8,957 bitcoins.

Cryptocurrency is emerging as a new asset class. Even regulators have acknowledged that the store of value in the future could be digital rather than physical. That’s why they are eyeing Central Bank Digital Currency (CBDC). This new asset class has given rise to Non-Fungible Tokens (NFT) that have ushered in an era of decentralized authentication.

News recommendation: What did Indians Search About Crypto in 2021?

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